What Is CNR

question 82

Short Answer

What is CNR?

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Definitions:

Inventories

Goods and materials that a business holds for the ultimate goal of resale or processing.

Underapplied Manufacturing Overhead

Underapplied manufacturing overhead occurs when the allocated manufacturing overhead costs are less than the actual costs incurred, indicating a shortfall that needs to be addressed in financial accounts.

Overapplied Manufacturing Overhead

A situation where the allocated manufacturing overhead costs exceed the actual overhead costs incurred.

Adjusted Cost

The net cost of an asset after adjustments for factors such as depreciation, improvements, or disposals, used in financial and tax reporting.