Question: It is often challenging for organizations to identify the correct costs to utilize in making decisions. Mistakes can be made in identifying the correct costs

It is often challenging for organizations to identify the correct costs to utilize in making decisions. Mistakes can be made in identifying the correct costs to utilize in decisions for several reasons including the fixed cost fallacy, hidden cost fallacy, and hidden cost of capital fallacy. Identify an example from an organization for which you have worked or an organization from a business periodical article (cite the article) where the incorrect cost was utilized in the decision that was made. Describe the decision that was made and identify what mistake was made by the organization and how the organization could have corrected the mistake.

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