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Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Truce of God and Peace of God
Fixed Manufacturing Overhead
Costs that do not vary with the level of production or sales, such as salary of the factory manager and rent of the manufacturing facility.
Overhead Applied
The allocation of overhead costs to specific jobs or cost objects based on a predetermined rate.
Standard Direct Labor-Hours
The predetermined estimate of the labor hours required to produce one unit of a product.
Fixed Manufacturing Overhead
Costs in manufacturing that do not change with the level of production, such as rent, salaries, and insurance.
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