When finding the LCM of two numbers, why is one number left out of multiplying when it is repeated in the multiples?

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For example, the LCM of 10, 24. In factoring the two numbers, there are 4 twos, one 3, and one 5. But, in using compact or exponents to find the LCM, the correct form is 2 cube, multiplied by 3, multiplied by 5, which is 120. However, I get confused because there are 4 twos in factoring both numbers. So, why is it not 2 to the fourth power instead of 2 cube?