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Allotment of whole item of cost to a cost centre or cost unit is known as:
- ACost Apportionment
- BCost Allocation
- CCost Absorption
- DMachine hour rate
Correct answer: B
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Cost Allocation
Allotment of whole item of cost to a cost centre or cost unit is known as Cost Allocation. Cost allocation is the process of identifying, aggregating, and assigning costs to cost objects. A cost object is any activity or item for which you want to separately measure costs.
Allotment of whole item of cost to a cost centre or cost unit is known as Cost Allocation. Cost allocation is the process of identifying, aggregating, and assigning costs to cost objects. A cost object is any activity or item for which you want to separately measure costs.