Kristi sells purses. Her cost is $35 per purse. On a certain day, she sells 12 purses, and her producer surplus for that day amo

Answer:

• As explained below, with the individual’s score in the 0.03125 fraction of top candidates, they can anticipate securing a position.

Explanation:

Utilizing Chebyshev’s Theorem is key.

This theorem is valid for any dataset, irrespective of its shape.

Chebyshev's Theorem states that at least 1−1/k² of the data falls within k standard deviations from the mean.

For this data set, the specifics are:

• mean: 60
• standard deviation: 6
• score: 84

The number of standard deviations that 84 is from the mean can be calculated as:

• k = (score - mean) / standard deviation
• k = (84 - 60) / 6 = 24 / 6 = 4

Hence, the individual’s score is 4 standard deviations above the mean.

How significant is this?

According to Chebyshev’s Theorem, at least 1−1/k² of the data is within k standard deviations from the mean. Setting k = 4 gives us:

• 1 - 1/4² = 1 - 1/16 = 0.9375

• This implies that half of 1 - 0.9375 exceed k = 4: 0.03125

• Consequently, 1 - 0.03125 is below k = 4: 0.96875

With 70 job openings and 1,000 applicants, the ratio is 70/1,000 = 0.07, indicating the company seeks the top 0.07 of applicants.

Given the individual scores in the top 0.03125 of applicants, they can expect to obtain a job.

Question not complete

Direct Labour Cost is missing

Direct Labor Cost ----- $50,000.00 $270,000.00

Answer:

a.

Overhead Rate (Cutting Department) = $5.5 per machine hour = $5.5 per machine hour

Overhead Rate (Finishing Department) = $12.2 per labour hour

b. Total Manufacturing Cost = $644

c. Yes

Explanation:

a. To determine the predetermined overhead rate appropriate for each department.

Given

Cutting Department

The Cutting Department calculates its rate based on machine-hours

Manufacturing Overhead Costs = $264,000

Machine Hours = 48,000

Finishing Department

For the Finishing Department, the rate is calculated based on direct labor-hours.

Manufacturing Overhead Costs = $366,000

Direct Labour Cost = $270,000

Overhead Rate (Cutting Department) = Manufacturing Overhead Cost/Machine Hours

Overhead Rate (Cutting Department) = $264,000/48,000

Overhead Rate (Cutting Department) = $5.5 per machine hour

Overhead Rate (Finishing Department) = Manufacturing Overhead Cost/Machine Hours

Overhead Rate (Finishing Department) = $366,000/$270,000

Overhead Rate (Finishing Department) = 1.36

Overhead Rate (Finishing Department) = 136% direct labour cost

b.

The Cutting Department's rate is based on machine-hours

Given

Machine hours = 80 machine hours

Overhead Rate = $5.5 per machine hours ------ This was calculated

The Finishing Department's calculations rely on direct labor-hours.

Given

Direct Labour Cost = 150

Overhead Rate = 136% of labor cost ------ This was deduced

Overhead Applied (Cutting Department) = 80 * 5.5

Overhead Applied = 440

Overhead Applied (Finishing Department) = 136% * 150

Overhead Applied = $204

Total Overhead Applied = $440 + $204

Total = $644

c. Yes

If the business utilizes a company-wide overhead rate linked to direct labor cost and if jobs have increased machine hours paired with lower labor costs, they would incur less overhead expenses.

Answer:C) All of these statements are valid.

Explanation:

Sensitivity analysis examines how the optimal decision and EMV fluctuate when one or more inputs change.

Sensitivity analysis evaluates how various values of an independent variable influence a specific dependent variable under certain assumptions.

It is applied within particular constraints that rely on one or more input variables.

A contingency plan constitutes a strategy within a multistage decision scenario that designates which decision to implement for every potential outcome.

A contingency plan is a category of action tailored to assist governance in effectively responding to significant future events or situations that may or may not arise.

A multistage decision problem refers to a situation where decisions and observations of uncertain outcomes interchange.

Answer:

The correct answer is "600000".

Explanation:

The values provided are:

Cost of office furniture,

= $100,000

Cost of the computer system,

= $500,000

• The revised MACRS allows a corporation to gradually reduce the mortgage balance of such depreciating assets.
• In the initial years, MACRS permits accelerated depreciation but then slows down the process. This is advantageous for businesses from a taxation perspective.

Now,

The cost recovery deduction is calculated as:

=

Substituting the values gives us

=

=