Examlex
The rules programmed into a function are referred to as the function's algorithm.
Overhead Rate
A calculation used to allocate indirect costs to produced goods, based on a specific base, such as labor hours.
Direct Labor Cost
The total cost of employment for employees who directly contribute to the production of goods or services, including wages and benefits.
Machine-Hours
A measure of the total time that machines are operating in a manufacturing process.
Predetermined Overhead Rate
The predetermined overhead rate is calculated by dividing estimated overhead costs by an allocation base, such as direct labor hours, to allocate overhead costs to products or services.
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