Which of the following statements about a discrete random variable and its probability distribution is true?
a. Values of the random variable can never be negative.
b. Negative values of f(x) are allowed if ?f(x) = 1.
c. Values of f(x) must be greater than or equal to zero.
d. The values of f(x) increase to a maximum point and then decrease.
c
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FOB shipping point means the buyer pays all shipping costs.
Answer the following statement true (T) or false (F)
A management philosophy that allows all workers access to information necessary to do their jobs effectively is referred to as ________________________________________
Fill in the blank(s) with correct word
Period costs can be found in the balance sheet or in the income statement
Indicate whether the statement is true or false
Potestio Incorporated makes a single product-a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead$49,530 Budgeted fixed manufacturing overhead 252,720 Total budgeted manufacturing overhead$ 302,250 Budgeted production (a) 30,000unitsStandard hours per unit (b) 1.30machine-hoursBudgeted hours (a) × (b) 39,000machine-hours Applying Overhead: Actual production (a) 31,000unitsStandard hours per unit (b) 1.30machine-hoursStandard hours allowed for the actual production
(a) × (b) 40,300machine-hours Actual Overhead and Hours: Actual variable manufacturing overhead$80,560 Actual fixed manufacturing overhead 266,720 Total actual manufacturing overhead$ 347,280 Actual hours 42,400machine-hoursThe total of the overhead variances is: (Round your intermediate calculations to 2 decimal places.) A. $34,955 U B. $45,030 F C. $45,030 U D. $34,955 F