Answer:
The CPA Practice Advisor
The probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean is:
= 56%
Explanation:
a) Data and Calculations:
Population mean (preparation fee for 2017 federal income tax returns) = $273
Population standard deviation of preparation fees = $100
Mean price for a sample of 30 federal income tax returns = $257 (which is within $16 of the population mean)
z = (x-μ)/σ
z = standard score
x = observed value
μ = mean of the sample
σ = standard deviation of the sample
Z = ($273 - $257)/$100
= 0.16
Using the z-table
P = 0.5636
Answer:
Conversion cost= $58,300
Explanation:
Giving the following information:
Direct labor $ 29,000
Manufacturing overhead $ 29,300
<u>The conversion costs are the sum of the direct labor and manufacturing overhead:</u>
Conversion cost= direct labor + Manufacturing overhead
Conversion cost= 29,000 + 29,300
Conversion cost= $58,300
Answer:
He is used to paying less for other things. He expected the glasses to be cheaper.
Answer:
4.20%
Explanation:
In this question, we use the Rate formula which is shown in the spreadsheet.
The NPER represents the time period.
Given that,
Present value = $1,150
Future value = $1,067.50
Assuming Par value = $1,000
PMT = 1,000 × 6.35% = $63.50
NPER = 5 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
So, after solving this, the rate of return is 4.20%
