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Which two factors are especially important when applying the FITT principle?
Process Costing
A method of costing used primarily in manufacturing where costs are allocated to batches or production runs, making it easier to determine the cost per unit.
Paper Manufacturer
A company engaged in the production and sale of paper products, including writing, printing, and packaging materials.
Job Order Costing
An accounting method used to track the costs associated with producing a specific batch of products or performing a specific service.
Costing System
A method used by businesses to track, record, and analyze costs associated with their products or services to ensure profitability.
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