Define cost object and give three examples.
a. a cost object is anything for which a separate measurement of costs is desired. examples include a product, a service, and a customer.
b. a cost object is a cost incurred (historical or past cost), as distinguished from a budgeted cost, which is a predicted or forecasted cost (a future cost). examples include materials, labor, and overhead.
c. a cost object is the collection of cost data in some organized way by means of an accounting system. examples include accumulated costs, overhead, and direct labor.
d. a cost object is a resource sacrificed or forgone to achieve a specific objective. examples include direct materials, direct labor, and advertising.

A, A cost object is anything for which a separate measurement of costs is desired. Examples include a product, a service, and a customer.

Explanation:

A cost object is any item for which costs are being separately measured.

It is a key concept used in managing the costs of a business.

Types of cost object:

-output. the most common cost objects are a company´s products and services, since it wants to know the cost of its output for profitability analysis and price settings.

-operational. A cost object can be within a company, such as a department, machining operator, product line, or process. For example, you could track the cost of designing a new product, or a costumer sevice call, or of reworking a returned product.

-business relationship. A cost object can be outside of a company, there may be a need to accumulate costs for a supplier or a customer, to determine the cost of dealing with that entity. Another variation on the concept is the cost of renewing a license with a goverment agency.

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.

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