Assuming Little's law, determine the number of customers that remain in the system when you leave
A) 250
B) 25
C) 150
D) 100
C
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An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's BookstoreIncome StatementFor Quarter Ended March 31Sales $900,000Cost of goods sold 630,000Gross margin 270,000Selling and administrative expenses Selling$100,000 Administration 104,000 204,000Net operating income $66,000 On average, a book sells for $50. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The contribution margin for Sam's Bookstore for the first quarter is:
A. $756,000 B. $144,000 C. $774,000 D. $180,000
Averages and indexes differ from one another in that an index
A) is the arithmetic average price behavior of a group of stocks at a given point in time. B) measures the current price behavior of a group of stocks in relation to a base value set at an earlier point in time. C) is of value in-and-of itself, whereas an average must be compared to a historical figure to have any meaning. D) always moves up before a corresponding average moves up, and always moves down before a corresponding average moves down.
The expected value approach is more appropriate for a one-time decision than a repetitive decision
a. True b. False Indicate whether the statement is true or false
Heather Inc has the following information for its first year of operations: Units produced 1,800Units sold 1,800Unit sales price$130.00Direct material per unit$25.00Direct labor per unit$10.00Variable manufacturing overhead per unit$20.00Fixed manufacturing overhead$57,600Variable selling expenses$10.00Fixed selling and administrative expenses$33,000 a. Prepare Heather's full absorption costing income statement.b. Prepare Heather's variable costing income statement.
What will be an ideal response?