CONGLOMERATE Definition

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CONGLOMERATE is a group of diverse companies under common ownership and run as a single organization.

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CONTRACT RATE OF INTEREST is the interest rate specified in a contract.

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.

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