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Underapplied Manufacturing Overhead
The condition where the estimated manufacturing overhead costs are less than the actual overhead incurred, resulting in a shortfall that needs to be adjusted.
Finished Goods
Items that are ready after production but still await sale or delivery to consumers.
Underapplied Manufacturing Overhead
Occurs when the allocated manufacturing overhead costs are less than the actual overhead costs.
Overapplied Manufacturing Overhead
A situation where the allocated manufacturing overhead costs exceed the actual overhead costs incurred during a period.
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