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 [2 marks]

(b) Direct cost [2 marks]

(d) Cost allocation [2 marks]

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Ride Berhad is engaged in the manufacturing and marketing of bicycles. Two bicycles are produced. These are the Roadster which is designed for use on roads and the Everest which is a bicycle designed...

I would like to have the answers for question 1 thru 64 please ACCA 310 FALL 2015 ASSIGNMENT QUIZ CHAPTERS 7 TO 10 Multiple Choice: 1. The financial budget includes a. only the capital budget and the...

I would like have the answers for questions 65 - 130 ACCA 310 FALL 2015 ASSIGNMENT QUIZ CHAPTERS 7 TO 10 Multiple Choice: 1. The financial budget includes a. only the capital budget and the cash...

1)Widget Manufacturing has just completed a major change in its quality control (QC) process. Previously, QC inspectors had reviewed products at the end of each major process, and the company's 10 QC...

Service Department Cost Allocation Problem Nowadays, a pervasive and important issue concerns healthcare costs and healthcare services. This case will examine the role of allocations on reimbursement...

Any assistance would be great please: Draus Products Company uses activity-based costing to compute product costs for external reports. The company has three activity cost pools and applies overhead...

Discussion Board 4 Production Economics and Decisions...

PLEASE COMPLETE NO LATER THAN 10/14 @3:30PM Each question(1,2,& 3) must be a minimum of 200 words. Please EXPLAIN answers in FULL detail and make answers knowledgeable based off the attached reading,...

Jenkins Appliances has cash flow problems and needs to borrow between $50,000 and $60,000 for approximately sixty (60) days. Because the business is small and relatively new, unsecured loans are very...

A platinum coil has a resistance of 3.146 at 40C and 3.767 at 100C. Find the resistance at 0C and the temperature-coefficient of resistance at 40C.

CA9.3 (LO 2) (Capitalization of Borrowing Costs) Langer Airline is converting from piston-type planes to jets. Delivery time for the jets is 3 years, during which time substantial progress payments...

Assuming you are Sports Media Relations at one of the largest companies, design your one-year strategic plan to establish and maintain strong relationships with local media sources. As follows: 1....

Compare the difference between job descriptions and job specifications.

Understand the process of Run, Hide, Fight during an active shooter situation.

Create a workflow analysis.