Examlex
The term caveat emptor means:
Variable Overhead Rate
Variable overhead rate is the cost of variable overhead (expenses that change with the level of production) allocated per unit of production activity, such as labor-hours or machine-hours.
Direct Labor-Hours
The total hours worked by employees who are directly involved in the manufacturing process or production of goods.
Fixed Manufacturing Overhead
Indirect manufacturing costs that remain constant regardless of the level of production, such as factory rent and salaries of production supervisors.
Variable Overhead Rate
This rate is used to apply the variable overhead costs to production activities, based on an activity base.
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