Examlex
Process costing is often used by professional service providers, such as law firms.
Plantwide Allocation Base
A single criterion, often direct labor hours or machine hours, used to allocate the total overhead of a plant to various products or cost objects.
Budgeted Units
The quantity of products or services that are planned to be sold or produced over a specific period, as per the budget.
Plantwide Factory Overhead Rate
A single overhead absorption rate used throughout a manufacturing plant, applied to all cost units irrespective of the department where they were produced.
Overhead Costs
Expenses related to the day-to-day running of a business that cannot be directly linked to any specific business activity or product.
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