Please Define the Following Key Terms

question 9

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Thomas Malthus

---

Definitions:

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead costs to products, calculated based on estimates rather than actual expenses.

Manufacturing Overhead

Refers to the indirect factory-related costs incurred when producing a product, which may include the cost of materials, labor, and utility expenses that are not directly tied to the production of goods.

Predetermined Overhead Rate

A rate used to allocate indirect costs to products or services, based on estimated overhead costs and an allocation base.

Direct Labor-hours

The sum of time spent by employees directly involved in the creation of a product, often used to allocate manufacturing costs.