OVERHEAD Definition

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OVERHEAD is the costs associated with providing and maintaining a manufacturing or working environment. For example: renting the building, heating and lighting the work area, supervision costs and maintenance of the facilities. Includes indirect labor and indirect material.

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COMPOUND INTEREST PRINCIPLE is where the interest is computed on principal plus interest earned in previous periods.

PERMANENCE is the quality or state of being permanent; primarily judged by durability and useful life. See ORDER OF PERMANENCE.

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