• Compare activity-based costing (ABC) with traditional costing methods for LMN Corporation using the following data:

  Cost Component	Traditional Cost ($)	ABC Cost ($)
  Direct Materials	$20,000	$25,000
  Direct Labor	$15,000	$18,000
  Manufacturing Overhead	$10,000	$12,000

  Requirements:

  • Analyze the differences in costs between traditional and ABC methods.
  • Present the analysis in a detailed table format.
  • Discuss the advantages and disadvantages of each costing method.