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Describe the features required in an effective performance management system.
T-account
A visual representation of a ledger account that outlines the effects of transactions on an account, with debits on the left and credits on the right.
Overhead Cost Applied
The process of assigning estimated indirect costs to specific manufacturing jobs based on the predetermined overhead rate.
Cost of Goods Manufactured
The total production cost of goods completed during a specific period, including labor, materials, and overhead.
Partially Completed
Refers to products or projects that are in process and not yet completed or ready for sale or final use.
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