Examlex
How is a scrap efficiency ratio calculated?
Overapplied Overhead
Refers to the situation where the allocated overhead cost is more than the actual overhead incurred by a business.
Predetermined Overhead Rate
An estimated rate used to assign overhead costs to products or services based on a specific activity base.
Direct Labor Hours
The total hours worked by employees directly involved in the manufacturing process or the provision of services.
Overapplied Overhead
A condition where the allocated manufacturing overhead costs exceed the actual overhead costs incurred.
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