1. Dissect the relationship between cost objects, cost drivers, and cost pools. Select a real-world company and provide examples of applicable cost objects and cost drivers. Elaborate on the concept of a four-part cost hierarchy and how this supports the collection and allocation of costs.

2. Evaluate the significance of manufacturing overhead including flexible budgeting, overhead cost variances and how each relates to a managers ability to control various aspects of their operation. Summarize the key elements influencing the overhead variances and the importance of investigating those factors when performing a variance analysis