Examlex
Two-year-old Michael already knows the meaning of the word dog. One day when he is at a park with his mother, they see a dog and his mother points to the dog and says, "That's a collie." Michael is likely to conclude that
Predetermined Overhead
An estimated amount of overhead cost assigned to each unit of production in advance of the actual production.
Actual Manufacturing
The real and factual process of producing goods, as opposed to planned or estimated production.
Job-Order Costing
An accounting method used to track costs and revenue for individual jobs or batches, suitable for customized orders.
Raw Materials
Basic materials that are used in the production process of manufacturing goods.
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