Use a light colored background
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Answer: The following are the similarities between job order and process costing:
Explanation:
Job order costing and process costing have significant similarities:
- Both job and process cost frameworks have a similar objective: to decide the expense of items.
- Both job and process cost frameworks have a similar cost streams. Bookkeepers record production in separate records for materials stock, work, and overhead. At that point, they move the expenses to a Work in Process Inventory account.
- Both job and process cost frameworks used predetermined overhead rates to apply overhead.
Answer:
C) purchasing goods at product markets
The gross margin ratio is also sometimes referred to as the gross profit percentage or the gross profit margin. To solve for its value, we divide the net profit of a certain company or group by its net sales. From the given above,
gross profit margin = $0.9 million / $2.8 million = 0.32
