Answer:
A) What is the prior probability of the bid being successful (i.e., prior to the request for additional information)?
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50% chance of being successful
B) What is the conditional probability of a request for additional information given that the bid will ultimately be successful?
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77% chance of being successful
C) Compute the posterior probability that the bid will be successful given a request for additional information.
- Using Bayess theorem = (50% x 77%) / [(50% x 77%) + (50% x 40%)] = 0.385 / (0.385 + 0.2) = 0.385 / 0.585 = 66%
Bayess theorem = (probability of success before the request x probability of success after the request) / [(probability of success before the request x probability of success after the request) + (probability of failure before the request x probability of failure after the request)]
Answer and Explanation:
The journal entries are shown below:
1. Inventory $1,800
Accounts Payable $1,800
(Being purchased on account)
2. Inventory $50
To Cash $50
(being freight paid)
3. Accounts Payable $51
To Inventory $51
(being the returned calculator is recorded)
4. Accounts Receivable $670
To Sales Revenues $670
(Being sales is recorded)
5. Cost of Goods Sold $460
To Inventory $460
(Being cost of goods sold is recorded)
6. Sales returns $40
To Accounts Receivable $40
(being sales return is recorded)
7. Inventory $28.20
To Cost of Goods Sold $28.20
(Being cost return is recorded)
8. Accounts Receivable $780
To Sales Revenues $780
(Being the sales is recorded)
9. Cost of Goods Sold $560
To Inventory $560
(Being the cost of goods sold is recorded)
Answer: control
Explanation: In simple words, controlling refers to the function of management under which the managers perform certain activities and makes decisions to achieve desired objectives of organisation from the subordinate.
In the given case, Dakota is comparing their profits from the projected profits and also taking corrective actions in case of discrepancies.
Hence from the above we can conclude that the correct option is B .
Answer:
Break-even point in dollars= $594.6
Explanation:
Giving the following information:
Wheat Inc. produces and sells a single product.
The selling price of the product is $240.00 per unit
The variable cost is $88.80 per unit.
The fixed expense is $374,598 per month.
Break-even point in dollars= fixed costs/ contribution margin ratio
contribution margin ratio= (price - variable costs)/price
contribution margin ratio= (240 - 88)/240= 0.63
Break-even point in dollars= 374.598/0.63= $594.6