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Explain expectancy, and describe the roles of the effort-to-performance link and the performance-to-outcome link in expectancy theory.
Machine-Hours
A measure of the amount of time a machine is operated, often used in costing and budgeting processes.
Forming Department
A production department specialized in shaping and assembling parts or materials into finished goods.
Customizing Department
A specialized division within a company focused on tailoring products or services to meet specific customer requirements.
Predetermined Overhead Rate
A rate used to allocate manufacturing overhead cost to products or cost objects, calculated before the accounting period based on estimated costs and activity levels.
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