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Product's Individual Differences
Variations or unique features that distinguish each product from others, even if they are from the same production line or category.
Budgeted Factory Overhead
The estimated costs associated with running a factory that are not directly tied to producing goods, such as utilities and maintenance.
Direct Labor Hours
The total number of hours worked by employees directly involved in the production process of goods or services.
Single Plantwide Overhead Rate
A costing method where a single overhead rate is used to allocate all manufacturing overhead costs to products, regardless of the department in which the costs were incurred.
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