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To constitute an express warranty,a representation must be in writing.
Work In Process Inventory
Goods partially manufactured but not yet completed, representing an interim step in the production process.
Process Cost System
An accounting system used to track and assign production costs to units of output, particularly useful for homogeneous products.
Equivalent Units Of Production
A calculation used in cost accounting to apportion costs among completed units and units in process, based on their stage of completion.
Overapplied Overhead
A situation where the allocated overhead costs are more than the actual overhead costs incurred.
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