Which of the following five steps (out of six) of cost estimation is out of order? Multiple Choice Step 1: Define the cost object to be estimated. Step 2: Determine the cost driver (s). Step 3: Collect relevant data on the cost of the cost object and the cost driver. Step 4: Evaluate the accuracy of the cost estimate. Step 5: Select and employ the estimation method.

Step 4: Evaluate the accuracy of the cost.

Explanation:

The six steps in cost estimation are in the following order

define the cost object for which the related costs are to be estimated determine the cost drivers collect consistent and accurate data on the cost object and the cost drivers graph the data select and employ an appropriate estimation method evaluate the accuracy of the cost estimate

Step number 4 is suppose to be "graph the data" and not evaluate the accuracy of the cost (which is the last step)