A method of assigning probabilities based upon judgment is referred to as the _____
a. relative frequency method
b. probability method
c. classical method
d. None of the answers is correct.
d
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Which of the following statements is correct?
a. Traditional costing systems are comparatively expensive to develop. b. Traditional costing systems are generally less accurate at allocating overheads. c. Activity–based costing and traditional systems often produce different product cost information. d. Activity–based costing is comparatively less time consuming.
Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units:Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion.Units started and completed: 110,000.Units completed and transferred out: 135,000.Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion. Costs:Costs in beginning Work in Process - Direct Materials: $43,000.Costs in beginning Work in Process - Conversion: $48,850.Costs incurred in February - Direct Materials: $287,000.Costs incurred in February - Conversion: $599,150. Calculate the cost per equivalent unit of materials.
A. $1.74 B. $2.00 C. $2.36 D. $2.61 E. $2.05
A large department store has collected the following monthly data on lost sales revenue due to theft and the number of security guard hours on duty:
Lost Sales Revenue ($000s) Total Security Guard hours Lost Sales Revenue ($000s) Total Security Guard hours 1.0 600 1.8 950 1.4 630 2.1 1300 1.9 1000 2.3 1350 2.0 1200 (a) Determine the least squares regression equation. (b) Using the results of part (a), find the estimated lost sales revenues if the total number of security guard hours is 800. (c) Calculate the coefficient of correlation. (d) Calculate the coefficient of determination.
Blue Fin started the current year with assets of $840,000, liabilities of $420,000 and common stock of $240,000. During the current year, assets increased by $480,000, liabilities decreased by $60,000 and common stock increased by $330,000. There was no payment of dividends to owners during the year.What was the amount of Blue Fin's change in total stockholders' equity during the year?
A. $300,000 increase B. $240,000 increase C. $540,000 increase D. $420,000 increase