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Why is the use of estimated amounts utilized?

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Question 1. In the application of Manufacturing Overhead, why is the use of estimated amounts utilized? Can you provide an example of why this would be important for a firm to do?

Question 2. Cost of Goods Manufactured is usually not the same as Cost of Goods Sold? Why? Can an example be provided to illustrate why and how these may be different?

Reference no: EM132481072

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