Examlex
When the U.S. military contracts out security details in war zones, it is engaged in privatization.
Production Process
The series of steps involved in transforming raw materials into finished goods or services.
Overhead Account
An account used to record the indirect costs of a business, which are not directly attributable to a specific product or service.
Overabsorbed Overhead
The amount of overhead applied is greater than actual overhead cost incurred.
Prospective Overhead Rate
An estimated rate used to allocate overhead costs to products or services based on future expected activities and expenditures.
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