Does The Ranch on Netflix have a soundtrack in the background that they re-use or is it shot in front of a live studio audience like other sitcoms?
The Ranch was shot in a studio in front of an audience, according to cast member Ashton Kutcher in an interview with LA Times:
There's an extraordinary energy when you get to shoot in front of a live audience. What we realized when we set out to do this is we didn't want to do it just the same way everything else is.
The studio that has been used for filming is the Warner Brothers lot in Burbank, California (source: LA Times interview).