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Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
James Fenimore Cooper
Fixed Manufacturing Overhead
The set of costs associated with the production process that do not change with the level of production, including rent, salaries, and insurance.
Job-Order Costing System
A cost accounting system that accumulates manufacturing costs separately for each job or batch.
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead costs to individual products or job orders, based on a pre-established criterion such as direct labor hours.
Machine-Hours
A measure of production time, representing the number of hours a machine is operated in the production of goods.
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