A Company Has the Following Information for Its First Month

question 8

Multiple Choice

A company has the following information for its first month of operations: $$\begin{array} { l r } \text { Raw materials used } & \$ 25,000 \\\text { Sales } \$ 65 \text { per unit) } & \$ 78,000 \\\text { Direct labor } & \$ 42,000 \\\text { Variable factory overhead } & \$ 17,000 \\\text { Fixed factory overhead } & \text { unknown } \\\text { Variable selling and administrative } & \$ 3,000 \\\text { Fixed selling and administrative } & \$ 5,000 \\\text { Gross profit } & \$ 30,000 \\\text { Contribution margin } & \text { unknown } \\\\\text { Ending inventories: }\\\\\text { Raw materials } & \$ 7,000 \\\text { WIP } & \text { none } \\\text { Finished goods } & 1,200 \text { units }\end{array}$$ _____ is the inventory cost per unit using variable costing.

• A)$65.00
• B)$35.00
• C)$37.92
• D)$36.25

Identify the elements needed to calculate standard deviation and its relevance in data interpretation.

Differentiate between types of distributions and their characteristics.

Grasp the relationship between the mean, median, and the presence of outliers in a dataset.

Comprehend the significance of p-values in indicating the probability of results occurring by chance.

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Definitions:

Empirical Evidence

Observations or information derived from sensory experience or experiments rather than theory or belief.

Job Performance

The effectiveness and efficiency with which an individual fulfills their work-related tasks and responsibilities.

Behavior

The actions or reactions of an organism, often in relation to its environment, which can be observable or measurable.

Big Five

A model describing human personality through five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.