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Overhead expenses are all costs on the income statement except for direct labor, direct materials, and direct expenses. Overhead expenses include accounting fees, advertising, insurance, interest, legal fees, labor burden, rent, repairs, supplies, taxes, telephone bills, travel expenditures, and utilities. [3]
Overhead costs for a business are the cost of resources used by an organization just to maintain its existence. Overhead costs are usually measured in monetary terms, but non-monetary overhead is possible in the form of time required to accomplish tasks. Examples of overhead costs include: payment of rent on the office space a business occupies
Along with variable costs, fixed costs make up one of the two components of total cost: total cost is equal to fixed costs plus variable costs. In accounting and economics, fixed costs, also known as indirect costs or overhead costs, are business expenses that are not dependent on the level of goods or services produced by the business. They ...
Activity-based costing records the costs that traditional cost accounting does not do. The overhead costs assigned to each activity comprise an activity cost pool. From a historical perspective the practices systematized by ABC were first demonstrated by Frederick W. Taylor in Principles of Scientific Management in 1911 (1911.
Since the 1980s, Apple, like other Silicon Valley companies, shifted assembly operations and other manufacturing services from the United States to countries with lower labor, overhead costs and flexible scaling. [4] [5] Apple directly employs 147,000 workers including 25,000 corporate employees in Apple Park and across Silicon Valley.
For example, variable manufacturing overhead costs are variable costs that are indirect costs, not direct costs. Variable costs are sometimes called unit-level costs as they vary with the number of units produced. Direct labor and overhead are often called conversion cost, [3] while direct material and direct labor are often referred to as ...
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Apple Computer Company was founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne as a partnership. [8] [11] The company's first product is the Apple I, a computer designed and hand-built entirely by Wozniak. [12] To finance its creation, Jobs sold his Volkswagen Bus, and Wozniak sold his HP-65 calculator.