1. Explain briefly the basics of activity-based costing with example.
2. Explain the benefits and limitations of activity-based costing at least 9 of the each ones.
3. Explain briefly cost flows in an activity-based costing system with example.
4. Differentiate between job-order and process costing systems.
5. Explain the WACM and FIFO approaches with relevant examples.
6. Describe the cost concepts relevant to process costing and the flow of costs through the costing system.

Please briefly explain all the questions above with examples and provide reference for the answer as well, thank you.