Wallace Company Makes and Sells a Single Product

question 3

Multiple Choice

Wallace Company makes and sells a single product.Each unit requires two hours of labor at $8 per hour.The company has budgeted to sell 8,000 units and produce 10,000 units during the current month.Each product requires three pounds of material for each unit produced.Budgeted direct labor costs for the current month would be:

• A)$160,000
• B)$128,000
• C)$80,000
• D)$192,000
• E)$64,000

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Definitions:

Populations

The entire group of individuals or instances about whom the data is collected or a study is conducted.

Elements

The entities on which data are collected.

Samples

Collections or subsets of data taken from a larger population, used to analyze and make inferences about the population.

Ordinal Scale

The scale of measurement for a variable if the data exhibit the properties of nominal data and the order or rank of the data is meaningful. Ordinal data may be nonnumeric or numeric.