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As the workforce of the U.S. ages, a greater percentage of workers will have to concern themselves with
Over-Applied Overhead
A situation in cost accounting where the allocated overhead for a period exceeds the actual overhead costs incurred.
External Financial Reporting
The process of providing financial information to outside parties, such as investors and creditors, through statements and reports.
Over/Underabsorbed Overhead
The difference between the overhead costs applied to products and the actual overhead costs incurred.
Income Statement
A financial statement that shows a company's revenues and expenses over a specific period, ending with net income or loss.
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