When the Actual Overhead Incurred During an Accounting Period Is

question 211

Short Answer

When the actual overhead incurred during an accounting period is more than the overhead applied to jobs, the overhead is said to be ________.

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Definitions:

Binding Contract

An agreement between two or more parties that is legally enforceable.

Preprinted Terms

Agreements or forms that have standard conditions and text already printed on them before they are used, requiring only specific details to be added.

Handwritten Terms

Conditions or clauses manually written into a legal document or contract, which can sometimes hold precedence over printed text.

Ambiguous

Lacking clearness or definiteness; difficult to comprehend, distinguish, or classify due to having more than one possible interpretation.