please see attached question M Smith

Can you please answer these questions and define the last two words. These questions and definitions are in relation to cost accounting.

Why is the activity-based costing described in this chapter unacceptable for external financial reports?

Why are there two stages of allocation in activity-based costing?

Why is direct labor a poor base for allocating overhead in many companies

Why is the first stage of the allocation process in activity-based costing often based on interviews?

Benchmarking - please define

Customer-level activities – please define