Question: Cost assignment and cost allocation are used to support and explain the relationship between cost drivers and cost objects in assigning product costs. The relationship

Cost assignment and cost allocation are used to support and explain the relationship between cost drivers and cost objects in assigning product costs. The relationship of direct materials, direct labor, product, and period cost type are of direct importance.

--Discuss and provide an example of how cost assignments and cost allocation pertain to one of the costing types.

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Cost assignment is the act of distributing cost to a cost objects A cost object is any item for which cost are measured and subsequently assigned For ... View full answer

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