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According to the textbook, when was the steam engine first invented?
Predetermined Overhead Rate
An estimated rate used to allocate manufacturing overhead costs to individual products based on a certain activity.
Machine-Hours
A measure of production output or activity, where one machine-hour equals one hour of operation of a machine.
Assembly Department
An area in a manufacturing plant where parts are put together to form the end products.
Overhead Rate
A calculated rate used to allocate overhead costs to products or services, usually determined by dividing total overhead costs by an allocation base.
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