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What is Cost Allocation

One of these topics is the concept of cost allocation. This aspect is important because it plays a part in determining the final cost of the company's product at which it will be sold.

The various costs that go into making the product can be divided into -

  • Direct costs
  • The costs that can exactly be attributed a particular product made by the company are called direct costs.

  • Indirect costs
  • These are the general costs that are required to run the regular operations of the company and cannot be attributed to a particular product.

The direct costs are clearly defined for a particular product. The amount of direct costs associated with a product can be easily calculated. But it is not so for indirect costs because these costs are needed to produce all the goods and run the general administration of the company. So when costs are calculated the indirect costs are distributed among all the products. However it is not distributed equally but according to a percentage. This process of determining the percentage of indirect costs that a product shares is called cost allocation. The percentage is calculated on the basis of the contribution of that particular product in the whole production. These costs are allocated in such a way that they ultimately sum up equally in the financial statement.

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Free Cost Analysis Homework Help

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We also offer free cost allocation homework help. We solve one of your accounting homework help questions free of charge every 24 hours. Our tutors will provide you with assistance to complete your assignments and gain comprehensive knowledge about the subject. You can also get free accounting homework help on all topics related to accountancy.

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Cost Analysis - Online Tutoring Help

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We at tutorteddy.com understand that you could have several doubts on this concept. You need not worry anymore because our highly qualified tutors can guide you to solve all your problems. Their extensive industry experience can prepare you for the practical issues you may face in future. We also understand that you have to complete your papers on time so you need help instantly. We provide instant assistance so that you can complete your projects on time. Once you sign up with us you can be assured of these services.

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Apart from the key components of Performance Metrics other topics like -

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