Please help me solve this question with separate paragraphs. and add the references.

You can use the screenshot I sent as well.

1- explain the concept of ABC

2- Explain the seven steps by details

3- give a numeric example about ABC

4- explain by simple way the differences between ABC and traditional system and tell me your opinion about which method the firms prefer and why.

Your answer should organized and write in a separate and simple paragraphs with at least two references- Try if you can use the material of M to support your answer Explain the seven steps for calculation cost according to activity based costing system (ABC) You have to: 1. Explain the concept of ABC (1 mark! 2. Explain the seven steps by details (1 mark) 3. Give a numeric example about ABC (2 marks! 4. Explain by simple way the differences between ABC and traditional system and tell me your opinion about which method the firms prefer and why {1 mark)