4 of 10 Managerial Accounting Video Lecture by Professor Bassell on this channel. Applied Manufacturing Overhead: A discussion of managerial accounting concepts by Professor Myles Bassell. Professor Bassell discusses applied manufacturing overhead. He discusses and illustrates how to calculate the equivalent units of product and the weighted average method. He explains how to calculate the conversion cost and prepare a cost reconciliation report. Professor Bassell mentions the difference between costs to be accounted for and costs added to production. Professor Bassell emphasizes the importance of allocating costs and focusing on activtiy instead of volume.