OVERHEAD BUDGET Definition

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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.

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BUSINESS VALUATION is the act or process of determining the value of a business enterprise or ownership interest therein by determining the price that a hypothetical buyer would pay for a business under a given set of circumstances.

BOOK OF ACCOUNTS see LEDGER.

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