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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Explain how costs are assigned to activities.

To determine

State how costs are assigned to activities.

Explanation

Assigning Costs:

The assigning of the cost is a method or way that connects the cost object with the cost. A cost object is an item for which the cost is assigned by the cost drivers so that the company could trace the cost of that object.

As the process of identification of activities is completed, the next step is to determine the cost incurred in performing the activities. The cost of the resources such as labor, and capital used in performing the activity is given in their ledgers but the amount expended on the activity is not given...

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