For the Remaining Questions, Reduce All Fractions to Their Simplest

question 3

Short Answer

For the remaining questions, reduce all fractions to their simplest forms. Convert all improper fractions to mixed numbers. Provide answers in the following format:
Fraction: 3/4
Mixed number: 1 5/8
-Letter J measures what distance on the tape?

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Definitions:

Overhead Assignment

The process of allocating indirect costs (or overheads) to various cost objects such as products, projects, or departments.

Product Cost

The total expenses incurred to produce and prepare a product for sale, including materials, labor, and overhead.

Activity-Based Costing

An accounting method that assigns costs to products or services based on the activities they require, improving accuracy in assigning costs.

Overhead Cost Allocation

The process of spreading out indirect costs (overheads) to different departments or products within a company, aimed at determining true costs of products or services.