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Briefly discuss the options available to a futures trader holding an 'open' position on a futures contract.
Customizing
The process of modifying or creating products or services according to the customer's or user's specific needs.
Predetermined Overhead Rate
An estimated rate used to allocate manufacturing overhead to products or job orders based on a certain activity base.
Machine-Hours
A measure of the amount of time a machine is operated within a specific period, often used for allocating machine costs to products.
Direct Labor-Hours
Total labor hours of workers directly engaged in the production line.
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