The Controller of Joy Co Has Requested a Quick Estimate

question 37

Multiple Choice

The controller of Joy Co has requested a quick estimate of the manufacturing supplies needed for the Morton Plant for the month of July when production is expected to be 470,000 units to meet the ending inventory requirements and sales of 475,000 units.Joy Co's budget analyst has the following actual data for the last three months. Using the high-low method to develop a cost estimating equation,the estimate of needed manufacturing supplies for July would be (CMA adapted)

• A)$681,500.
• B)$688,750.
• C)$749,180.
• D)$752,060.
• E)$759,310.

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Definitions:

Stanford-Binet Intelligence Scale

A cognitive ability assessment tool that measures intelligence through various verbal and non-verbal tasks.

Mental Age

An assessment of an individual's mental aptitude based on the average age at which people achieve a particular score.

William Stern

A German psychologist who is best known for developing the concept of the intelligence quotient (IQ) and for his significant contributions to differential psychology.

Intelligence Quotient

A measure of a person's reasoning ability compared to the statistical norm or average for their age, calculated using standardized tests.