Examlex
Central planning is an efficient method for making coordination decisions.
Process Cost System
An accounting method used to track production costs when products are indistinguishable from each other and produced on a large scale.
Job Order Cost
A method of cost accounting that gathers the costs of manufacturing a specific batch or job, including labor, material, and overhead.
Manufacturing Overhead Rate
The ratio of manufacturing overhead costs to the base activity, used to allocate overhead costs to produced goods.
Machine Hours
A measure of production output or operation, calculated as the total number of hours that machinery is in use.
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