Examlex
A flexible manufacturing system uses computers to link the components of the production process into an effective system.
Standard Cost Card
A document that details the standard quantities and costs of materials, labor, and overhead for a specific product.
Fixed Manufacturing Overhead
These are the production costs that do not change with the volume of production, such as rent, salaries, and insurance.
Direct Labor Costs
Expenses that can be directly traced to the production of goods or services, including wages of workers who are physically involved in creating a product.
Predetermined Overhead Rate
A rate calculated by dividing estimated overhead costs by an allocation base, used to apply overhead to products or services.
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