Suppose that the demand and supply curve for a good are given by QD = 90 - P and QS = 4P - 10. 
Definitions:
Allocation
The process of distributing resources or costs among various departments, products, or activities based on specific criteria or formulas.
Journal Entry
A record in accounting that represents a transaction, showing the accounts affected and the amounts debited and credited.
Overapplied Balance
A situation in cost accounting where the amount of overhead applied to products or services exceeds the actual overhead costs incurred.
Manufacturing Overhead Account
An account used to record all indirect costs associated with the production process, including utilities, rent, and salaries for managers.
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