McCoy's Fish House purchases a tract of land and an existing building for $910,000. The company plans to remove the old building
and construct a new restaurant on the site. In addition to the purchase price, McCoy pays closing costs, including title insurance of $2,100. The company also pays $12,200 in property taxes, which includes $8,100 of back taxes (unpaid taxes from previous years) paid by McCoy on behalf of the seller and $4,100 due for the current fiscal year after the purchase date. Shortly after closing, the company pays a contractor $45,500 to tear down the old building and remove it from the site. McCoy is able to sell salvaged materials from the old building for $3,200 and pays an additional $10,100 to level the land.
1 answer:
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Answer:
The standard cost is $5 per lbs
each units uses 2 lbs, so the unit stadard cost is $10
Explanation:
Volume variance
std quantity 2800.00 (1,400 units times 2 pounds per unit)
actual quantity 3000.00
std cost ??
difference -200.00
efficiency variance $(1,000.00)
-200 x Std cost = -1,000
Standard cost = -1,000/-200 = 5
The standard cost is $5 per lbs
each units uses 2 lbs, so the unit stadard cost is $10
The closest to the minimum number of consumers needed to obtain the estimate with the desired precision is (b) 271
Explanation:
When the prior estimate of population proportion is not given , then the formula to find the sample size is given by :-
where E = Margin of error.
z* = Critical z-value.
As per given , we have
E = 5%=0.05
Confidence level = 90%
The critical value of z at 90% is 1.645 (By z-table)
Put all values in the formula , we get
n=0.25(1.645/0.05)²
n=0.25(32.9)²
n=270.6025≈271
Thus, the minimum sample size needed = 271
Hence , the correct answer is 271 .