The cost object of the cost assignment under the plantwide overhead rate method is the unit of product.
Cost assignment is the allocation of costs to the activity or object that caused the costs to occur. This concept is commonly used in activity-based costing due to actions that cause overhead costs. Cost allocation is based on one or more cost factors.
Cost assignment is a subprocess of cost allocation, that is, the overall process for determining the total cost per cost unit. Cost allocation includes both cost tracking and cost allocation. Cost tracking involves searching for direct costs for cost objects, and cost allocation is related to the indirect cost burden.
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