1. How does activity-based costing differ from the traditional costing approach? When would activity-based costing give more accurate costs than traditional costing systems?

Please explain the above questions according to 1 example reference article and attach the web URL link.

Topicsaddressed:

• Cost Allocation
• Activity-Based Costing
• The Use of Cost Information in Management Decision Making

Question references: Jiambalvo, J. (2020). Managerial Accounting. (7th Ed.). Hoboken, New Jersey: John Wiley & Sons, Inc.

• Chapter 6 Cost Allocation and Activity-Based Costing
• Chapter 7 The Useof Cost Information in Management Decision Making