Examlex
Explain what a planning gap is and what is used to close it.
Actual Overhead
The real costs incurred for overhead in a business, which can include utilities, rent, management salaries, and other indirect expenses.
Applied Manufacturing Overhead
The allocated cost of manufacturing overhead to specific jobs or production units based on a predetermined rate.
Gross Profit
The difference between sales revenue and the cost of goods sold, indicating the financial performance of a company's core activities.
Finished Goods Inventory
The value of a company’s products ready for sale at the end of an accounting period, sitting in the inventory.
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