Examlex
What do you understand by the term "spot rates"?
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead costs to individual products or job orders based on a predetermined formula.
Machine-Hours
The quantity of time machines are in operation, regarded as a factor in production cost calculations.
Casting
A manufacturing process where a liquid material is poured into a mold and solidifies to take on a specific shape.
Finishing
is the process of completing the final stages of manufacturing to prepare products for sale, such as painting, polishing, or packaging.
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