Answer:
a. The probability that any one customers service costs will exceed the contract price of $200 is 0.0228
b. Warda expected profit per service contract is $50
Explanation:
a. In order to calculate the probability that any one customers service costs will exceed the contract price of $200 we would have to calculate first the z value as follows:
z=x-μ/σ
z=$200-$150/$25
z=2
Therefore, probability that any one customers service costs will exceed the contract price of $200 is p(x>$200)=p(z>2)
=1-p(z≤2)
=1-0.9772
=0.0228
The probability that any one customers service costs will exceed the contract price of $200 is 0.0228
b. To calculate Warda expected profit per service contract we would have to make the following calculation:
Warda expected profit per service contract=service charge per contract-expected cost
Warda expected profit per service contract=$200-$150
Warda expected profit per service contract=$50
Warda expected profit per service contract is $50
Answer:
a. Finished Goods 360,000
Work in Process 360,000
Explanation:
During transfer, de-recognize the cost of finished and transferred production from the Work In Process Account of the Mixing Department (Credit) and accumulate the cost in the Finished Goods Account (Debit).
When the units are <em>finally sold</em>, Cost of Goods Sold is recognized (Debit) and the Finished Goods Account is De-recognized (Credit).
Answer:
The invoice price is $ 969.
Explanation:
This question requires us to tell the invoice price (dirty price) of the bond. Clean price is given in the question. So we can easily calculate invoice price by adding accrued interest in dirty price. Detail calculation is given below.
Clean price = $ 951 -A
Accrued Interest = (5.3% * 1000)/12*4 = $ 17.67 -B
Invoice price = A+B = $ 969 (approx)
Answer:
$34.8
Explanation:
Profits = sales - costs( variable costs +fixed costs)
In this case : total sales will be price $0.75 x units sold X= 0.75X
Variable costs : =$10 x units sold= $10x
Fixed cost remain $25 as they are not affected by quantity.
profits for the Week
P= (0.75x- 0.10x)-$25
Profit for the week with units sold as 92: x = 92
p= ( {0.75x92} - {0.10x92} )- $25
P= $69 - $9.2- $25
P=$59.8- $25
=$34.8
Answer:
Direct labor hour per unit= 0.87 hours
Explanation:
Giving the following information:
A particular product requires 0.71 direct labor-hours per unit.
The allowance for breaks and personal needs is 0.04 direct labor-hours per unit. The allowance for cleanup, machine downtime, and rejects is 0.12 direct labor-hours per unit.
<u>The total direct labor hour per unit is the time required to produce one unit.</u>
Direct labor hour per unit= 0.71 + 0.04 + 0.12
Direct labor hour per unit= 0.87 hours
