5 1 2 3 4 5 6 7 8 9 10 TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. Cost assignment includes cost allocation for indirect costs and direct costs. Cost pools are defined as groupings of individual cost items which can range from broad, company-wide categories to very narrow categories. A cost allocation base is only financial in nature, and is usually the cost driver of the particular costs being measured. Direct costs are allocated to the cost object using a cost-allocation method. TERVE The cost driver of an indirect cost is often used as the cost allocation base. Cost tracing is a specific term for assigning indirect costs. A job costing system assigns costs to a distinct unit or set of units of a product or service. A process costing system assigns costs to groups of similar units during a specified time per and then computes the average unit cost. Process costing is a useful system for tracking the costs of building a house. In each period, job costing divides the total cost of producing an identical or similar product by the total number of units produced to obtain a per-unit cost. Select the Answer from the cell below Notes:

Select the TRUE/FALSE - Write ' T ' if the statement is true and ' F ' if the statement is false. Answer from Notes: the cell below 1 Cost assignment includes cost allocation for indirect costs and direct costs. Cost pools are defined as groupings of individual cost items which can range from 2 broad, company-wide categories to very narrow categories. A cost allocation base is only financial in nature, and is usually the cost driver of 3 the particular costs being measured. 4 Direct costs are allocated to the cost object using a cost-allocation method. 5 The cost driver of an indirect cost is often used as the cost allocation base. 6 Cost tracing is a specific term for assigning indirect costs. 7 A job costing system assigns costs to a distinct unit or set of units of a product or service. 8 A process costing system assigns costs to groups of similar units during a specified time perh and then computes the average unit cost. 9 Process costing is a useful system for tracking the costs of building a house. 10 In each period, job costing divides the total cost of producing an identical or similar product by the total number of units produced to obtain a per-unit cost