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1 November, 04:44

Compton Corporation, with operations throughout the country, will soon allocate corporate overhead to the firm's various responsibility centers. Which of the following is definitely not a cost object in this situation?

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  1. 1 November, 07:32
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    Complete question:

    Compton Corporation, with operations throughout the country, will soon allocate corporate overhead to the firm's various responsibility centers. Which of the following is definitely not a cost object in this situation?

    A) The maintenance department.

    B) Product no. 675.

    C) Compton Corporation.

    D) The Midwest division.

    E) The telemarketing center.

    Answer:

    Compton Corporation is definitely not a cost object in this situation

    Explanation:

    A cost object is a concept commonly used in financial reporting to describe the costs. Definitions commonly found in expense items include: product lines, geographical areas, clients, teams or anything else handling the costs.

    Any object to which costs are independently calculated is a cost entity. In an organization, an expense item can be, for example a team, workmanship, production line or procedure.

    For example, the costs of construction, customer support or revamping of a returned product may be tracked.
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