Since the product has 1,000 in-production units, overhead cost per unit is calculated as $5,100/1,000 units = $5.10 per unit. This is less compared to the $7 per unit overhead cost calculated using the traditional overhead cost allocation, but it reflects more of the actual overhead cost behaviors.
In common parlance, the term social class is usually synonymous with  socio-economic class, defined as people having the same social, economic, or educational status, e.g., the working class ; an emerging professional class..lassless society refers to a society in which no one is born into a social class. Distinctions of wealth, income, education, culture, or social network might arise and would only be determined by individual experience and achievement in such a society.
The term socioeconomic refers to the interaction between the social and economic habits of a group of people â like the dating habits of millionaires! The prefix socio- refers to the study of the behaviors of people, including the ways they interact with one another or their family structures. The word economic refers to the economy, such as peopleâs income and finances. Socioeconomic links financial and social issues together.