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A __________ is the right,conferred by a written contract,to purchase property on the same terms offered by or to a third party.
Direct Labor-Hours
The cumulative hours put in by workers directly engaged in the process of manufacturing or in delivering services.
Predetermined Overhead Rate
The rate at which overhead costs are applied to products or services, estimated before the costs are incurred.
Departmental Predetermined
A rate calculated at the start of the accounting period, used to allocate overhead costs to products based on department-specific criteria.
Overhead Rate
A measure used to calculate how much overhead cost should be allocated to each unit of production, often based on direct labor hours or machine hours.
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