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Differentiate between spoilage, rework, and scrap, giving examples of each from a well-known company. How does accounting for spoilage and rework differ in process costing

  1. Differentiate between spoilage, rework, and scrap, giving examples of each from a well-known company.
  2. How does accounting for spoilage and rework differ in process costing versus job costing? Explain, using specific companies as examples.

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