CAPITAL SPARE Definition

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CAPITAL SPARE is the parts within inventory that are purchased as spare parts for depreciable assets (e.g., capital equipment). As such, the capital spares within inventory are depreciable and should not be treated as normal inventory.

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OVER-APPLIED FACTORY OVERHEAD is the amount of factory overhead applied in excess of the actual factory overhead incurred for a production period.

PAID IN SURPLUS see PAID-IN-CAPITAL.

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