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A company expected its annual overhead costs to be $750,000 and machine hours to equal 100,000 hours. Actual overhead was $745,000, and actual machine hours totalled 97,000 hours.
-How much overhead was applied?
Mistake
An error or misunderstanding in the terms or conditions of a contract that can lead to its revocation or modification if all parties agree or if a court intervenes.
Mortgage
A legal agreement where property is used as security for a loan, with the condition that the conveyance of title becomes void upon repayment of the loan.
Consideration
Something of value which is given by each party to a contract that induces them to enter into the agreement to exchange mutual performances.
HTC Smartphone
A line of smartphones produced by HTC Corporation, known for its innovation in mobile technology and design.
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