Examlex
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Overhead Applied
Refers to the amount of manufacturing overhead costs assigned to individual jobs based on a predetermined rate, representing the indirect costs associated with production.
Actual Overhead Costs
The real expenses incurred for overhead in a specific period, as opposed to budgeted or estimated costs.
Job Costing System
An accounting methodology used for assigning manufacturing costs to individual units or projects, tracking expenses accurately for each job.
Allocation Bases
Criteria or standards used to distribute overhead costs among various cost objects, based on factors like time, machine hours, or labor costs.
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