Mfundisi Company budgeted to produce 1 000 chairs. The budgeted production costs for 1 000 chairs are as follows: R Direct materials 5 000 Direct labour 8 000 Fixed overhead 5 000 Required: The production costs if 1 750 chairs are produced amount to

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.