HELP ASAP PLEASE! Accounting class! Lorge Corporation has collected the following information after its first year of sales. Sal
es were $1,575,000 on 105,000 units; selling expenses $250,000 (40% variable and 60% fixed); direct materials $606,100; direct labor $250,000; administrative expenses $270,000 (20% variable and 80% fixed); and manufacturing overhead $357,000 (70% variable and 30% fixed). Top management has asked you to do a CVP analysis so that it can make plans for the coming year. It has projected that unit sales will increase by 10% next year.
(See screenshots)
(See screenshots)
1 answer:
You might be interested in
Answer:
It is very likely that Rosa wins both prizes.
Step-by-step explanation:
The probability of winning a T‐shirt is 0.89 and the probability of winning a $20 gift certificate is 0.05. Which statement correctly describes the chances of Rosa winning a T‐shirt or a $20 gift certificate?
We have these three possibe outcomes.
Win t-shirt(0.89 probability) and lose the gift certiciate(1 - 0.05 = 0.95 probability)
Lose t-shirt(0.11 probability) and win the gift certiciate(0.05 probability).
Win both.
So
0.8955 = 89.55% probability of Rosa winning a T‐shirt or a $20 gift certificate, which is considered a very likely probability. So the answer is:
It is very likely that Rosa wins both prizes.