The plantwide allocation is a method, which involves the alternatives to the approach for the allocation of factory overheads, and also uses factory overheads based on different activities.
What is plantwide allocation?
The plantwide allocation rate is a method that uses an approach to compile all the required overhead costs of a business, and thus also involves application of one rate for one activity in an organization.
Hence, the significance of plantwide allocation is as aforementioned.
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