Question: Question 1(Activity Based- Costing) (25 Marks} Answer the following questions a) What are the principle differences between activity-based costing (ABC) and traditional costing systems? b)

Question 1(Activity Based- Costing) (25 Marks} Answer the following questions a) What are the principle differences between activity-based costing (ABC) and traditional costing systems? b) What is an activity cost pool? c) What is a cost driver? d) What is the formula for assigning activity cost pools to products? e) Why is direct labour a poor base for allocating overhead in many companies

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