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Overapplied Manufacturing Overhead
This occurs when the actual manufacturing overhead costs are less than the overhead allocated to products during a period.
Finished Goods Inventory
The stock of completed products that are ready to be sold but have not been yet.
Cost of Goods Manufactured
The total cost incurred by a company to produce goods within a specific time period, including labor, material, and overhead costs.
Manufacturing Overhead
Indirect costs associated with manufacturing, not directly traceable to a specific product, such as factory rent or maintenance.
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