FACTORY OVERHEAD Definition

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FACTORY OVERHEAD is the costs of operating a factory which cannot be assigned directly to a specific department or product.

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ESTIMATION SAMPLING is sampling to estimate the actual value of a population characteristic within a range of tolerable misstatement.

CONTROLLABLE MARGIN technically is the excess of contribution margin over controllable fixed costs. Managerially it is that margin that you can reasonably expect from a process that is balanced and controlled. Controllable margin is considered to be the best measure of a managers performance in efforts to control revenues and costs.

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