manufacturing costs and selling and administrative expenses were as follows: Total cost Rs. Beginning inventory: Direct materials Direct labour Variable factory overhead Fixed factory overhead Total Current period costs: Direct materials Direct labour Variable factory overhead Fixed factory overhead Total Selling and administrative expenses: Variable Fixed Total Instructions: 1. 2. 3. Prepare an income statement based on the variable costing concept. Prepare an income statement based on the absorption
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organization; the remaining 3p’s are the variable cost for the organization. It costs to produce and design a product; it costs to distribute a product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship (Constantinides‚ 2006). Pricing a product too high or too low could mean a loss of sales for the organization. Pricing should take into account the following factors: • Fixed and variable costs • Competition • Company
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Encyclopedia’s definition for probability is the concern for events that are not certain and the reasonableness of one expectation over another. These expectations are usually based on some facts about past events or what is known as statistics. Collier describes statistics to be the science of the classification and manipulation of data in order to draw inferences. Inferences here can be read to mean expectations‚ leading to the conclusion that the two go hand in hand in accomplishing what mankind has tried
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The average variable cost (AVC) in the short run and long run is ‘U’ shaped. Average variable cost is the total variable cost per unit of output‚ found by dividing total variable cost by the quantity of output. Thus if a firm produces X2 units of a commodity at a total variable cost of TVx2 the AVC of producing these two units of output is given as Average variable cost decreases with additional production at relatively small quantities of output and then eventually increases with relatively
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the five-number summary and the mean and standard deviation of the data. C. Describe the distribution of the data‚ citing both the plots and the summary statistics found in questions 1 and 2. AP Statistics Exam Review Topic II: Normal Distribution [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] FREE RESPONSE A set of 2‚000 measurements had a symmetric‚ mound-shaped distribution. The mean is 5.3 and the standard deviation is 0.7. Determine an interval that contains
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Chapter 13: Chi-Square Applications SHORT ANSWER 1. When samples of size n are drawn from a normal population‚ the chi-square distribution is the sampling distribution of = ____________________‚ where s2 and are the sample and population variances‚ respectively. ANS: PTS: 1 OBJ: Section 13.2 2. Find the chi-square value for each of the right-tail areas below‚ given that the degrees of freedom are 7: A) 0.95 ____________________ B) 0.01 ____________________ C) 0.025 ____________________
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perform a distribution function. The distribution function is vital to the economic well-being of society because it provides the goods and services desired by the consumer. Economists often describe the value of distribution in terms of ownership‚ place‚ and time utility. The marketer contributes to the product’s value by getting it to the right place at the time the consumer wants to buy it and by providing the mechanism for transferring ownership. Firms that do not perform the distribution function
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Chapter 158 Distributions to Shareholders: Dividends and Repurchases ANSWERS TO END-OF-CHAPTER QUESTIONS 158-1 a. The optimal distribution policy is one that strikes a balance between dividend yield and capital gains so that the firm’s stock price is maximized. b. The dividend irrelevance theory holds that dividend policy has no effect on either the price of a firm’s stock or its cost of capital. The principal proponents of this view are Merton Miller and Franco Modigliani (MM). They
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a manufacturer are analyzed for strength and conductivity. The results from 100 strands are as follows: High conductivity Low conductivity Strength High Low 74 8 15 3 (a) If a strand is randomly selected‚ what is the probability that its conductivity is high and its strength is high? P (High conductivity and high strength)= 74/100 =0.74 (b) If a strand is randomly selected‚ what is the probability that its conductivity is low or its strength is low? P (Low strength or low conductivity) = P(Low
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of 25 and a variance of 9. Find the probability that a measurement selected at random will be between 19 and 31. Solution: The values 19 and 31 must be transformed into the corresponding z values and then the area between the two z values found. Using the transformation formula from X to z (where µ = 25 and σ √9 = 3)‚ we have z19 = (19 – 25) / 3 = -2 and z31 = (31 - 25) / 3 = +2 From the area between z =±2 is 2(0.4772) = 0.9554 Therefore the probability that a measurement selected at random
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