The process of assigning the direct or indirect cost to any cost object is known as ____________?
Correct answer: A. cost assignment
- A. cost assignment
- B. cost expectation
- C. event assignment
- D. probability assignment
Explanation
Cost assignment is the process of attaching a direct or indirect cost to a cost object, such as a product, service, department, or customer. The other terms are not standard cost-accounting terms for this process.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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More Cost Accounting questions
If the budgeted direct labor hours are 4550 and direct labor cost rate is $600 per labor hour then, total direct labor cost would be _____________?
If an overhead cost of operating a machine is $500000 for 1000 hours, then the cost allocation rate will be ____________?
A document which consists information about labor time usage, for specific job in a specific department, is known as __________?
An approach which yields the benefits of normal costing and the actual manufacturing overhead is classified as ____________?
The total indirect cost in the pool by an actual quantity of cost allocation base, is used to calculate ____________?
An under allocated indirect cost is also called ____________?