A hotel tracks the number of complaints per month. When the process is in control, there is an average of 35 complaints per month. Assume that a 2-sigma control limit is used. What is the upper control limit?
A) less than or equal to 35
B) more than 35 but less than or equal to 45
C) more than 45 but less than or equal to 55
D) more than 55
C
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Which of the following items should be classified as an extraordinary item on an income statement?
a. gain on the retirement of a bond payable b. loss from hurricane damage in Iowa c. loss due to a discontinued operation in Colorado d. selling treasury stock for more than the company paid for it
Venus Manufacturing uses a predetermined overhead allocation rate based on direct labor cost. At the beginning of the year, it estimated the manufacturing overhead rate to be 20% of the direct labor cost. In the month of June, Venus completed Job 13C and its details are as follows:
What is the total cost incurred for Job 13C?
A) $27,632
B) $24,000
C) $10,360
D) $30,360
Shareholder wealth maximization means maximizing the price of the existing common stock
Indicate whether the statement is true or false
Ronson Corporation has two manufacturing departments-Casting and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: CastingCustomizingTotalEstimated total machine-hours (MHs) 5,000 5,000 10,000Estimated total fixed manufacturing overhead cost$27,500$10,500$38,000Estimated variable manufacturing overhead cost per MH$1.70$2.60 During the most recent month, the company started and completed two jobs-Job C and Job G. There were no beginning inventories. Data concerning those two jobs follow: Job CJob GDirect materials$10,600$6,800Direct labor cost$23,700$7,900Casting machine-hours 3,400 1,600Customizing machine-hours 2,000 3,000Assume that the company uses a plantwide predetermined manufacturing overhead rate
based on machine-hours. The amount of manufacturing overhead applied to Job C is closest to: (Round your intermediate calculations to 2 decimal places.) A. $32,130 B. $20,520 C. $20,230 D. $11,900