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Why is it important to classify costs into a cost hierarchy?

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Why is it important to classify costs into a cost hierarchy?
Answered Same Day Dec 23, 2021

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David answered on Dec 23 2021
119 Votes
Why is it important to classify costs into a cost hierarchy?
It is important to classify costs into a cost hierarchy because costs in different cost pools
elate to different cost-allocation bases and not all cost-allocation bases are unit level. A
cost hierarchy refers to division of costs into different categories and categorizing them
into cost pools. Cost is allocated on the bases of allocation which are commonly
efe
ed to as cost...
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