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If budgeted machine-hours allowed per actual output unit equals 1.0 hour, and budgeted variable manufacturing overhead per machine-hour is $200, what is the budgeted variable manufacturing overhead rate per output unit?
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The authority or entitlements a principal has in a legal or contractual relationship, especially in relation to an agent acting on their behalf.
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To formally confirm or approve an act, agreement, or treaty, making it officially valid.
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