I was always taught the order for processing math functions is:
M, D, A, S (multiplication, then division, then addition, then
subtraction)
I've always understood the order of precedence as:
Multiplication (M) and Division (D) = same precedence
followed by
Addition (A) and Subtraction (S) = same precedence
Precedence is then followed by association.
i.e. if M and D (or A and S) are found in the same expression then, in the
absence of parentheses, they're calculated as they are found reading left to
right.
i.e. to me, 1/2*4 is the same as (1/2)*4 which should equate to 2 (yet
ON2007 produces 0.125 = 1/(2*4)).
which is why I always use parentheses where doubt may exist.