What Is Virtualization and How and Why Is It Used

question 16

Essay

What is virtualization and how and why is it used?

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Definitions:

Completed Job Cost Sheet

A document detailing the total cost associated with completing a specific job, including materials, labor, and overhead.

Manufacturing Overhead

All manufacturing costs other than direct materials and direct labor, includes costs like factory rent, utilities, and machine depreciation.

Applied to Production

Costs that are allocated or assigned to goods that are being produced, often involving direct labor, materials, and overhead.

Overapplied

Refers to a situation where the amount of overhead allocated to products or jobs is more than the actual overhead incurred.