Add the Fractions Below, and Express the Answer in Its $\frac { 8 } { 52 } + \frac { 12 } { 52 }$

question 56

Short Answer

Add the fractions below, and express the answer in its lowest terms. $\frac { 8 } { 52 } + \frac { 12 } { 52 }$

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Definitions:

Income Statement

A financial statement showing the company's revenues, expenses, and profits over a specific period.

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time.

Manufacturing Overhead

All indirect costs related to the manufacturing process, such as utilities and salaries for management, that cannot be directly traced to specific products.

Direct Materials

Ingredients that are identifiable as directly contributing to the creation of a product.