A company has 600 employees. A random sample of 49 employees took a computer literacy test. The sample resulted in a mean score of 75 with a standard deviation of 21
a. Estimate the standard error of the mean.
b. Develop an approximate 95% confidence interval for the population mean of the 600 employees.
a. 2.9 (rounded)
b. 69.2 to 80.8 (rounded)
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As part of good internal control, disbursements can be made either by check or cash
a. True b. False Indicate whether the statement is true or false
Select the action that matches the category of internal control procedures. (Select all that apply.) Independent review and appraisal
a. One department should check on another b. Internal audit staff ensure all is working as intended c. Accounting and cash collection is properly separated d. Blank checks are locked at all times when not in use e. Origination of initial entry into accounting system f. Specific authority is given by management for the performance of activities
Underfoot Products uses standard costing. The following information about overhead was generated during May: Standard variable overhead rate $2 per machine hour Standard fixed overhead rate $1 per machine hour Actual variable overhead costs $390,000 Actual fixed overhead costs $175,000 Budgeted fixed overhead costs $190,000 Standard machine hours per unit produced 10 Good units produced 18,000
Actual machine hours 195000 Compute the variable overhead efficiency variance. a. $50000 (F) b. $50000 (U) c. $40000 (F) d. $30000 (U)
Morrisey Company has two investment opportunities. Both investments cost $6800 and will provide the same total future cash inflows. The cash receipt schedule for each investment is given below: Investment I Investment IIPeriod 1 $1900? $1900? Period 2 1900? 3080? Period 3 2900? 4260? Period 4 5440? 2900? Total $12,140? $12,140? What is the net present value of Investment II assuming an 12% minimum rate of return? Use Appendix Table 1. (Do not round intermediate calculations. Round your answer to nearest whole dollar.)
A. $2227 B. $12,140 C. $9027 D. $(8732)