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The provisions of a will currently undergoing probate are: "One thousand shares of Wal-mart stock to my son; $10,000 in cash from my savings account to my brother; $5,000 in cash to my daughter; and any remaining property divided equally between my son and daughter." At the time of death, the estate included 1,000 shares of Wal-mart stock and $6,000 cash in the savings account. What would the brother have received from the settlement of the estate?
Overapplied
A situation where the allocated overhead costs for production exceed the actual overhead expenses incurred.
Direct Materials
Basic substances that can be directly linked to the production process of a good.
Direct Labor
Labor costs that can be directly traced to the production of specific goods or services, such as wages for assembly line workers.
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead to products or job orders, calculated before the period begins based on estimated costs and activity levels.
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