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In the long run,profits will equal zero in a competitive market because of
Overhead Assignment
The process of allocating indirect costs (or overheads) to various cost objects such as products, projects, or departments.
Product Cost
The total expenses incurred to produce and prepare a product for sale, including materials, labor, and overhead.
Activity-Based Costing
An accounting method that assigns costs to products or services based on the activities they require, improving accuracy in assigning costs.
Overhead Cost Allocation
The process of spreading out indirect costs (overheads) to different departments or products within a company, aimed at determining true costs of products or services.
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