Examlex
What is a bank run, how can it begin, and why is it dangerous for the greater economy?
Manufacturing Overhead Applied
The portion of manufacturing overhead costs allocated to each unit of production based on a predetermined rate.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including materials, labor, and manufacturing overhead.
Underapplied
Refers to a situation where the allocated manufacturing costs are less than the actual manufacturing costs incurred.
Overapplied
A situation in accounting where the allocated manufacturing overhead cost is more than the actual overhead incurred.
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