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Unformatted text preview: Provides product costs for each quantity of product that is manufactured Period Costs: Those costs that are used up in generating revenue during the current period and that are not involved in manufacturing a product, such as selling, general, and administrative expenses Predetermined factory overhead rate: The rate used to apply factory overhead costs to the goods manufactured; the rate is determined by dividing the budgeted overhead costs by the estimated activity usage at the beginning of the fiscal period Process cost system: A type of cost system that accumulates costs for each of the various departments within a manufacturing facility Process Cost System: A type of cost system that accumulates costs for each of the various departments within a manufacturing facility Underapplied factory overhead: The amount of actual factory overhead in excess of factory overhead applied to production during a period...
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This note was uploaded on 10/05/2010 for the course ACCOUNTING n/a taught by Professor N/a during the Summer '09 term at Kaplan University.
- Summer '09
- Cost Accounting