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When is job order costing used? Describe the differences between job-order costing and process costing. Additionally, describe why (advantages) a company might choose to use a predetermined overhead rate. Include a discussion of the advantages (benefits) of using a predetermined overhead rate rather than the actual overhead rate. Finally, are job order costing concepts used by professional service firms? If so, describe how.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M969240

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