A production process is considered in control if it processes at least 98.5% non-defective items. Samples of size 400 are used for the inspection process. Determine the upper and lower control limits for the P chart of defective elements


UCL = 0.0332
LCL = 0.00 (actual value is negative)

Business

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A company has cost of goods available for sale of $250,000, sales of $305,000, and a gross profit percentage of 30 percent. Using the gross profit method, what is the ending inventory?

A) $95,000 B) $50,000 C) $36,500 D) $158,500

Business

A company allocates $7.50 overhead to products based on the number of direct labor hours worked. The company uses a plantwide overhead rate with direct labor hours as the allocation base. Given the amounts below, how many direct labor hours does the company expect in department 2?Estimated:Department 1Department 2Manufacturing overhead costs$74,358 $49,572 Direct labor hours 6,610DLH ?DLHMachine hours 700MH 800MH

A. 3,109 DLH B. 9,914 DLH C. 16,254 DLH D. 6,612 DLH E. 7,454 DLH

Business

Why is attracting new customers so important to a company's sales and profits?

What will be an ideal response?

Business

If a decision maker has to make a particular decision only once, expected monetary value is a good indication of the payoff associated with the decision

Indicate whether the statement is true or false

Business