CHARTER Definition

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CHARTER is the document of corporation organization.

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OVERHEAD BUDGET shows the expected cost of all production costs other than direct materials and direct labor. Budgeted variable overhead costs are based on a budgeted variable overhead rate multiplied by budgeted activity. Budgeted fixed overhead costs remain unchanged as the activity level changes within the relevant range. See OPERATING BUDGET.

INCREMENTAL COST is the increase or decrease in costs as a result of one more or one less unit of output.

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