Examlex
Zero defects cannot be achieved in larger software programs because fully testing programs that contain thousands of choices and millions of paths would require thousands of years.
Predetermined Rate
An estimated overhead rate used to allocate overhead costs to products or services, calculated at the beginning of a period.
Overhead Applied
The amount of manufacturing overhead costs allocated to individual units of production, based on the predetermined overhead rate.
Work in Process
Inventory consisting of items that are in the production process but are not yet complete.
Job-order Costing
An accounting method that tracks costs individually for each job rather than average them over all jobs.
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