discuss how precise a cost object should be, e.g. let's say we are talking about Apple's phone lineup. Should the cost object describe:

-- all iPhones in current production

-- separate cost objects by model (iPhone 11, iPhone 10X, iPhone 10, iPhone 8, iPhone SE)

-- separate cost objects for each variant (iPhone 11, iPhone 11 Max, iPhone 11 Max Pro, iPhone 10 XS, iPhone 10 XR, etc.)

-- separate cost objects for each option (iPhone 11 64 MB, iPhone 11, 128 Mb, iPhone 11 256 Mb, iPhone 11 Max 64 Mb, etc

-- separate for each SKU (stock keeping unit) [add colours to the last choice]

What are the advantages or disadvantages involved in your choice?

This assignment is to get you to think about the level of detail needed for this data to be effective in management decision making. You'll find that too much detail is as much of a problem as too little. Finding the right level of detail is a choice management accountants have to make.