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The Townshend Act replaced the ________ in 1766.
Machine-Hours
A measure of the amount of time machines are utilized during the production process.
Predetermined Overhead Rate
A rate used to allocate overhead costs to products or services, calculated before the period begins based on estimated costs and activity levels.
Machine-Hours
A unit of measure representing the operational time of a machine, used in calculating manufacturing costs and efficiency.
Overhead Applied
The estimated overhead cost assigned to each unit of product manufactured based on a predetermined rate.
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