Answer:
The expected value of the car you will buy is $22,000
Explanation:
In the given question, the car values are symmetrically distributed which means that we have to compute the mean between the values that are mentioned in the question.
So, the mean is an average of the numbers, the computation is shown below:
= (Value 1 + value 2) ÷ (number of observations)
= ($20,000 + $24,000) ÷ 2
= $22,000
Standard cost per output unit for each variable direct cost input is calculated by multiplying developed for a period for a planned output. An estimated expense that typically happens throughout the creation of a good or provision of a service is called a standard cost.
In other words, standard cost is the estimated sum of money a business will need to spend in order to create a something or provide a service under typical circumstances. Examples include payments due for rent, utilities, insurance, office staff salary, and supplies, among others. the normal fixed cost is $100,000, and the hourly rate is $15.
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Answer:
$550 favorable
Explanation:
Douglas industries was involved in the manufacturing of 5,500 units of a product which required 2.5 standard hours per unit.
The standard fixed overhead cost per unit is $2.20 for each hour at 13,500 hours
Therefore, the fixed factory overhead volume variance can be calculated as follows
= (13,500-(5,500×2.5hours)×$2.20
= (13,500-13,750)×$2.20
= -250 × $2.20
= -$550
= $550 favorable
Hence the fixed factory overhead volume variance is $550 favorable
Answer:
E. None, i.e., all of the above are true.
Explanation:
A. Services tend to have higher customer interaction than goods.
B. Most goods are common to many customers; services are often unique to the final customer. C. Services tend to have a more inconsistent product definition than goods.
D. Tangible goods are generally produced and consumed simultaneously; services are not.
E. None, i.e., all of the above are true.
All of the above are true
