ABS specializes in repair and maintenance of industrial machines. One repair technician has been assigned to five identical grinding machines for repair and maintenance. The machine breaks down after about 20 hr of use, and breakdowns have a Poisson probability distribution. It takes 6 hr to repair a machine, and repair times follow an exponential distribution. Machine downtime costs the company $250 an hour, and the technician is paid $50 an hour. Determine the cost savings of having two technicians as compared to one technician.
A. $320.50
B. $100.50
C. $162.50
D. $175.00
C. $162.50
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Which of the following is an advantage of franchising compared to company-owned service distribution?
A) reduced financial risk B) increased control on customer experience C) increased brand value D) increased standardization of services
Match the following terms with the appropriate definition.A. Accrual basis accountingB. Cash basis accountingC. Fiscal yearD. Interim financial statementsE. Depreciation F. Straight-line depreciationG. Time period assumptionH. Expense recognition (matching) principleI. Accrued revenues____ 1. Any 12 consecutive months or 52-week period that a company adopts for its annual reporting period.____ 2. A method that allocates equal amounts of an asset's cost (less any salvage value) to depreciation expense during its useful life.____ 3. Assumes that an organization's activities can be divided into specific time periods such as months, quarters, or years.____ 4. Aims to record expenses in the same accounting period as the revenues that are earned as a result of those expenses.____ 5. The
accounting system that uses the adjusting process to recognize revenues when earned and expenses when incurred.____ 6. The process of allocating the costs of long-term assets to the income statement over their expected useful lives.____ 7. Revenues earned in a period that are both unrecorded and not yet received in cash or other assets.____ 8. The accounting system that recognizes revenue when cash is received and records expenses when cash is paid.____ 9. A set of financial statements that covers less than one year, typically one, three, or six months of activity. What will be an ideal response?
While preparing a salad, the chef removes the core from a head of lettuce. This core would be classified as
a. defective. b. shrinkage. c. waste. d. scrap.
Donna defaulted on her loan owed to Second State Savings and Loan. The loan was secured with Donna's car. Donna used the car for personal and family reasons. Which statement is correct?
A) Second State may take Donna's car without a court order if this can be done without a breach of the peace. B) Second State may take Donna's car without a court order even if it means a breach of the peace. C) Second State may not take Donna's car because it is a consumer good. D) Second State may not take Donna's car because perfection was automatic.