The Steps Involved in Determining the Full Cost of a Cost

question 51

Multiple Choice

The steps involved in determining the full cost of a cost object are listed below (in no particular order) .
A . determine the indirect cost rate for each cost driver
B . identify the cost object
C . identify cost pools and cost drivers
D . allocate indirect costs to the cost object

The correct order for carrying out these steps is:

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Definitions:

Choices

Decisions made by individuals or organizations among two or more alternatives.

Resources

The total means available for economic and political development, such as minerals, labor force, and financial wealth.

Depression

A harsh and long-lasting decline in economic operations, featuring a marked decrease in the GDP, rising unemployment figures, and continued decrease in prices.

Economy

The organized system of human activity involved in the production, consumption, exchange, and distribution of goods and services.