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2 Classifying a cost as either direct or indirect depends upon. a. whether the cost is expensed in the period in which it is incurred

2 Classifying a cost as either direct or indirect depends upon. a. whether the cost is expensed in the period in which it is incurred b. whether a cost is fixed or variable c. whether the cost can be traced to a particular cost object in an economically feasible way d. the behavior of the cost in response to volume changes Moving to another question will save this response. Define cost object and give three examples. A cost object is a. a resource sacrificed or forgone to achieve a specific objective. Examples include direct materials, direct labor, and advertising b. the collection of cost data in some organized way by means of an accounting system. Examples include accumulated costs overhead, and direct labor c. anything for which a separate measurement of costs is desired. Examples include a product, a service, and a customer. d. a cost incurred (historical or past costs as distinguished from a budgeted cost, which is a predicted or forecasted cost (a future costs. Examples include materials labor, and overhead Moving to another question will save this responseimage text in transcribedimage text in transcribed

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