Examlex
With respect to a commodity's freight classification, shippers tend to prefer a higher classification number while carriers tend to prefer a lower classification number.
Overapplied Manufacturing Overhead
Occurs when the allocated manufacturing overhead costs are more than the actual overhead costs incurred.
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.
Credit
An accounting entry that increases liabilities or equity or decreases an asset or expense.
Underapplied Manufacturing Overhead
A situation where the allocated manufacturing overhead costs are less than the actual overhead costs.
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