cost accounting

No less than 200 words

(1) For the financial reporting purpose, we need to allocate manufacturing overhead costs. Please summarize the different ways to allocate manufacturing overhead costs that you have seen from managerial accounting and this cost accounting class. 

 (2)  What are the other needs to allocate costs in business?    How do you allocate or share costs in your experience?

(For example, if you share living expenses (rent, utilities, etc) with a roommate, you may do this cost-sharing simply and roughly, or allocate the costs in a more sophisticated Sheldon Cooper way (a character in Big Bang Theory) with a spreadsheet with who is paying what exactly.)