Examlex
If losses are being made in a perfectly competitive industry,in the long run industry supply will ______ and market price will _______.
Machine-Hours
A measure of production output or work measurement based on the number of hours machines are operated.
Job-Order Costing System
A cost accounting system in which costs are assigned to specific jobs or batches, used in manufacturing and services.
Predetermined Overhead Rate
A rate used to allocate estimated overhead costs to products or services, based on a chosen activity base like labor hours or machine hours.
Direct Labor-Hours
The total number of hours worked by employees that are directly involved in the manufacturing process.
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