UNDER-APPLIED FACTORY OVERHEAD Definition

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UNDER-APPLIED FACTORY OVERHEAD is the amount of residual factory overhead that remains once all known overhead allocations are assigned to the applicable products. See also UNABSORBED COSTS.

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DIRECT EXPENSE is that portion of expense that is directly expended in providing a product or service for sale and is included in the calculation of COST OF GOODS SOLD, e.g. labor and inventory.

WHOLE LOAN is a mortgage pass-through or CMO backed by non-agency, single-family home mortgages.

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