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Cost classifications used for assigning costs to cost objects include: Multiple Choice Variable cost and fixed cost. Direct cost and indirect cost. Product cost and period cost. Relevant cost and irrelevant cost.
Cost classifications used for assigning costs to cost objects include: Multiple Choice Variable cost and fixed cost. Direct cost and indirect cost. Product cost and period cost. Relevant cost and irrelevant cost.
Cost classificationsused forassigning coststo cost objects include product cost and period cost. Hence, the correct option is (C).What Is Cost Classification?Cost classificationrefers to the classification of costs into different categories according to their behavior, nature, purpose, and other characteristics. Cost classification is essential since it aids in understanding the relationship between different costs and their impact on a company's financial performance. Costs may becategorizedin various ways, including by their behavior (fixed or variable),purpose(product or period), nature (direct or indirect), and relevance (relevant or irrelevant). Each cost classification type is utilized to group expenses according to how they influence a company's finances, giving executives greater insight into the cost structure and making it easier to developstrategiesfor improving the bottom line. A cost object may be any product, service, process, or activity for which costs are calculated.Learn more aboutcost classificationatbrainly.com/question/29386910#SPJ11...