Answer each in 150-200 words

1- Activity-based costing is helpful in providing relatively accurate product cost information. However, the value of activity-based costing information goes beyond accurate product costing. When activity-based costing is used in conjunction with activity-based management, organizations are often able to make dramatic improvements to operations.

How does activity-based management help an organization reduce costs and become more efficient

2-What is a cost pool, and how does it relate to allocating overhead to products?