Examlex
Which statement is false?
Applied to Production
Costs that are allocated or assigned to goods that are being produced, often involving direct labor, materials, and overhead.
Overapplied
Refers to a situation where the amount of overhead allocated to products or jobs is more than the actual overhead incurred.
Underapplied
Underapplied refers to a situation where the allocated costs are less than the actual costs incurred, often relating to overhead in manufacturing.
Direct Labor-Hours
A measure of the amount of time workers spend on production, often used as a basis for allocating overhead costs in traditional costing systems.
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