A group of individual costs that is allocated to cost objectives using a single cost driver is known as a
A) cost allocation base.
B) cost pool.
C) joint cost.
D) by-product.

Question

Quizplus · Accepted Answer

A group of individual costs that is allocated to cost objectives using a single cost driver is known as a cost pool. A cost allocation base is the measure used to allocate costs, while joint costs are costs incurred for a production process that yields multiple products. By-products are secondary products generated during a production process.

A Group of Individual Costs That Is Allocated to Cost