Question: Cost allocation is a general term that refers to identifying accumulated costs with, or tracing accumulated costs to, cost objects such as departments, activities or

Cost allocation is a general term that refers to identifying accumulated costs with, or tracing accumulated costs to, cost objects such as departments, activities or products. Explain the following terminology relating to cost allocations. (a) Cost object (b) Direct cost (c) Indirect cost

Please give explanation with example in details for each point.

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