Harrison Products Is Selling 1 Million Shares in an Auction

question 80

Multiple Choice

$$\begin{array} { c c } \text { Price (\$) } & \text { Number of Shares Bid } \\\hline 6.00 & 100,000 \\6.25 & 200,000 \\6.50 & 450,000 \\6.75 & 200,000 \\7.00 & 350,000 \\7.25 & 200,000 \\7.50 & 250,000\end{array}$$ Harrison Products is selling 1 million shares in an auction IPO. At the end of the bidding period they have received the bids shown above. Which of the following is closest to the price at which the shares will be offered?

• A) $6.60
• B) $6.75
• C) $7.00
• D) $6.25

---

Definitions:

Labour Rate Variance

The difference between the actual cost of labor and the expected cost, based on standard rates and actual hours worked.

National Distribution

The strategy of distributing products or services across an entire country, reaching various markets within it.

Direct Labour

The workforce directly engaged in producing goods or delivering services, distinct from indirect labor involved in supportive roles.

Materials Standards

Materials Standards define the quality, size, and composition specifications that materials used in production must meet to ensure consistent product quality.