Traditional Volume-based costing allocates indirect product costs based on the volume of output, using such allocation bases as direct labor hours, machine hours, or the amount of direct material used in the production process. Activity- based costing (ABC) has consistently shown that volume-based costing. the cost of low-volume products. Select one: a. Understates, Overstates b. Overstates, Overstates c. Understates, Understates d. Overstates, Understates e. none of the given answer. the cost of high-volume products and ABC systems Select one: a. will limit cost drivers to units of output b. will allocate costs based on volume c. comply with GAAP d. none of the given answer. e. highlight the different levels of activities