Examlex
When an asset is purchased (or disposed of) at a time other than the beginning or the end of an accounting period, depreciation is recorded for part of a year so that the year of purchase or the year of disposal is charged with its share of the asset's depreciation.
Factory Rent
The cost associated with leasing a facility used for manufacturing or production purposes.
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead costs to products or job orders, based on estimated costs and activity levels.
Machine Hours
A measure of production activity or cost allocation based on the number of hours a machine is operated.
Overapplied Overhead
Refers to the situation where the allocated overhead cost is more than the actual overhead incurred by a business.
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