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Job-order Costing
An accounting method that tracks costs individually for each job rather than average them over all jobs.
Overapplied
A situation where the allocated manufacturing overhead costs exceed the actual overhead expenses incurred.
Direct Labor
Labor costs associated with employees who are directly involved in the production of goods or the provision of services.
Indirect Labor
Describes labor costs associated with employees who do not directly work on a product, but whose services are necessary for the manufacturing process.
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