Read the sentence.

The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation

Sophie [7]

Answer: The answer is 6.68%

Explanation:

Using the z value formula

Z = x - mean / standard deviation

x = $47,500

Mean = $40,000

Standard deviation = $5,000

= 47,500 - 40,000 / 5,000

= 7,500 / 5,000

= 1.5

Then we look for z value of 1.5 to the left of normal distribution table because the probability is at least

The z value is 0.0668

0.0668 × 100

= 6.68%

Therefore the probability that an individual with an MBA degree will get a starting salary of at least $47,500 is 6.68%

8 0

3 years ago

Jordan Company budgeted sales of 400,000 calculators at $40 per unit last year. Variable manufacturing costs were budgeted at $1

MariettaO [177]

The minimum price Jordan would accept for this special order is $22

Explanation:

Special order 40,000 calculators

Order price $23

Total order price = 40,000× $23 = 920,000

$Total order price = 40,000× $23 = 920,000$

Note : according to the question.,there is no need for fixed manufacturing costs

Total cost Estimation = (Variable cost +estimated additional cost )×T.units

= (19 + 3) = 22 ×40,000 units = 880,000

$= (19 + 3) = 22 ×40,000 units = 880,000$

profit from this order = 23-22 = 1 per unit ×40,000 = 40,000

The minimum price Jordan would accept for this special order is $22

3 0

3 years ago

Cost Behavior; High-Low Method [LO2-4, LO2-5] Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The c

vova2212 [387]

Answer:

Y=4200+0.074X

At activity level of 80,000 kilometers total cost is $10,120

Explanation:

Variable cost=(cost at higher activity-cost at lower activity level)/(vol. at higher activity level-vol. at lower activity level)

cost at higher activity level=105000*0.114=$11,970

cost at lower activity level=70000*$0.134=$9,380

variable cost=($11,970-$9,380)/(105,000-70,000)

=$0.074

The cost function is Y=a+bX

where Y is total cost

a is fixed cost

b is the variable cost

X is the volume of output at a particular level of output

by substituting variable cost at higher activity level of 105000 units

$11,970=a+($0.074*105000)

$11,970=a+$7770

a=$11,970-$7,770

a=$4,200

Y=4200+0.074X

If 80,000 kilometers were driven during the year,the total cost is computed thus:

Y=$4200+($0.074*80000)

Y=$4200+$5920

Y=$10,120

5 0

3 years ago

John wants his assessment reduced by 30% since his property is located next to a power plant. The SCAR hearing officer granted J

Ray Of Light [21]

Answer:

John must first complete a process that starts with Form RP-524. Since the problem states that he already had a SCAR hearing, the only option left is the Tax Certiorari Proceeding which is a legal lawsuit filed in the New York State Supreme Court.

Explanation:

The compete process is as follows:

John must first file a grievance form, if he lives outside of New York City and Nassau County, he can use Form RP-524 "Complaint on Real Property Assessment" and file it with the assessor or the board of assessment review (BAR) in John's city. New York City residents and Nassau Country residents must contact directly their tax or review commissions by telephone. The grievance forms must be filed before Grievance Day in John's city (it varies depending on the city).

Then John will have to appear before the BAR and present his claim. The BAR is made up of 5 members and it cannot include the assessor or any member from the assessor's office.

If the BAR's decision doesn't satisfy John, then he can proceed with a Small Claims Assessment Review (SCAR). Since John was granted only a 20% reduction by the SCAR hearing officer, the only option left is the Tax Certiorari Proceeding which is a legal lawsuit filed in the New York State Supreme Court.

5 0

3 years ago

Company J acquired all of the outstanding common stock of Company K in exchange for cash. The consideration transferred exceeds

slamgirl [31]

<u>Answer:</u> The amounts have to be determined using fair value for plant and equipment and for long term debt.

<u>Explanation:</u>

Fair value method is based on the market price of the asset. The historical value of the assets is not used to consider the sale price of the asset. Fair value is where Company J and Company K both the parties have to accept the price based on the known facts of the assets.

Company J and Company K should both accept the price out of free will and should not be out of compulsion. Company J can report based on the financial statement fair value of the assets and long term debt.

4 0

3 years ago