3.) Describe how Smart Electronics can use the activity-based costing Information to formulate a more competitive pridng strategy. Be sure to include specific examples to justify the recommended strategy. OOOOOO Content Items (Select all items adequately covered in your response): Explain ABC costing and how it differs from the traditional method Explain how Model R-24 uses more setups, components, and material movements Under the traditional method, Model R-24 was previously under-costed and Model M-11 was over-costed The company might decide to increase the price of Model R-24 For Model M-11, the previous overhead was overestimated given that it was allocated by labor hours Management might reduce the price of Model M-11 to make it more competitive Discuss in terms of your analysis and include the content items listed above fully. Do a side by side comparison of the two approaches. 4.) Identify and explain two advantages and two limitations of activity-based costing. 3.) Describe how Smart Electronics can use the activity-based costing Information to formulate a more competitive pridng strategy. Be sure to include specific examples to justify the recommended strategy. OOOOOO Content Items (Select all items adequately covered in your response): Explain ABC costing and how it differs from the traditional method Explain how Model R-24 uses more setups, components, and material movements Under the traditional method, Model R-24 was previously under-costed and Model M-11 was over-costed The company might decide to increase the price of Model R-24 For Model M-11, the previous overhead was overestimated given that it was allocated by labor hours Management might reduce the price of Model M-11 to make it more competitive Discuss in terms of your analysis and include the content items listed above fully. Do a side by side comparison of the two approaches. 4.) Identify and explain two advantages and two limitations of activity-based costing