On average, how many machines are in the system either being repaired or waiting in line to be repaired?
In a factory, machines breakdown at an average of 6 machines per hour according to a Poisson distribution. The time a repair person takes to repair the machine is not defined by any probability distribution, but has a mean of 8 minutes and a standard deviation of 3 minutes.
Answer: L = 2.63 machines
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On October 1, 2018, Northern Company purchased a patent for $211,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. The patent has no residual value. What will be the balance in the patent account on September 30, 2019?
A) $189,900 B) $211,000 C) $200,450 D) $105,500
Former public relations executive Martin Arnold tells students who aspire to work in public relations to check out organizations that have job possibilities in their keenest areas of interest
Indicate whether the statement is true or false
Which of the following would be a secured creditor in a corporate bankruptcy?
A) 30 employees each owed $1,500 in wages that have not been paid B) a bank with $100,000 owing on a chattel mortgage on the company's vehicles C) the government for $20,000 owing in HST D) the local hydro company for $12,000 owing on an electrical bill E) all of the above would be secured creditors
Black Hills Manufacturing has two processing departments, Department I and Department II
During the year, direct materials worth $38,000 purchased on account were assigned to Department I. At the end of the year, when the production cost report for Department I was prepared, Black Hills assigned $40,000 to the units transferred from Department I to Department II. The journal entry to record the transfer of units to Department II will ________. A) debit Work-in-Process Inventory-Department II for $38,000 and credit Work-in-Process Inventory-Department I for $38,000 B) debit Work-in-Process Inventory-Department I for $40,000 and credit Work-in-Process Inventory-Department II for $40,000 C) debit Work-in-Process Inventory-Department I for $38,000 and credit Work-in-Process Inventory-Department II for $38,000 D) debit Work-in-Process Inventory-Department II for $40,000 and credit Work-in-Process Inventory-Department I for $40,000