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What is the best way to ensure that a 40 watt bulb and a 60 watt bulb have the same voltage applied to them?
Overhead Account
An accounting term that refers to all ongoing business expenses not directly tied to a specific product or service.
Applied Overhead
This is the process of assigning estimated overhead costs to specific cost objects based on a predetermined rate or basis such as labor hours or machine hours.
Underapplied Overhead
A situation where the actual manufacturing overhead costs are higher than the overhead costs allocated to products.
Credit Side
The right side of an accounting ledger where increases in liabilities, revenues, and equity accounts are recorded.
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