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What Has Been the Effect of the Outmigration of People

question 90

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What has been the effect of the outmigration of people from farming and the consolidation of smaller farms into larger ones on net farm income per farm household?


Definitions:

Predetermined Overhead Rate

The rate used to allocate manufacturing overhead to products, calculated before the period begins based on estimated costs and activity levels.

Direct Labor-Hours

A measure used in accounting to allocate costs, referring to the total hours worked by employees directly involved in the manufacturing process.

Job-Order Costing System

A cost accounting system that accumulates costs incurred according to each job or project, suitable for industries where goods or services are produced on a custom basis.

Predetermined Overhead Rate

is calculated before a period begins and is used to allocate manufacturing overhead costs to products based on a chosen activity basis, such as labor hours or machine hours.

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