Finished goods inventory refers to the stock of completed and fully manufactured products that a company holds before they are sold to customers. It represents the final stage of the production...
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A predetermined factory overhead rate, also known as a predetermined overhead allocation rate or predetermined overhead rate, is a predetermined or estimated rate used to allocate or apply indirect...
What is Underapplied (Under-absorbed) Factory Overhead Rate?
Underapplied factory overhead, also known as under-absorbed factory overhead, refers to a situation where the actual overhead costs incurred during a specific accounting period exceed the amount...
Overapplied factory overhead, also known as over-absorbed factory overhead, refers to a situation where the actual overhead costs incurred during a specific accounting period are less than the amount...
Applied overhead refers to the amount of overhead costs that are allocated or assigned to products, services, or cost objects based on a predetermined rate or allocation method. It is the application...
A job cost sheet, also known as a job order cost sheet, is a document or record used in job order costing to track and accumulate the costs associated with a specific job or project. It serves as a...