Write the Ratio as a Fraction and Reduce to Lowest $\frac { 4 } { 3 }$

question 68

Short Answer

Write the ratio as a fraction and reduce to lowest terms. 24:18 A) $\frac { 4 } { 3 }$

B) $\frac { 24 } { 18 }$

C) $\frac { 3 } { 4 }$

D) $\frac { 18 } { 24 }$

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Definitions:

Job-Order Costing

A financial tracking approach designed to monitor expenses and determine the profit margins of specific projects or groups.

Overapplied Overhead

A situation where the allocated manufacturing overhead cost is more than the actual overhead incurred.

Underapplied Overhead

A situation where allocated overhead costs are less than the actual overhead incurred.

Job-Order Costing

A costing method used to calculate the costs associated with producing specific orders or batches, where the costs for materials, labor, and overhead are compiled and assigned to each job individually.