The Following Data for the Unbreakable Company Pertain to the Production

question 72

Multiple Choice

The following data for the Unbreakable Company pertain to the production of 2,000 bottles during July: Standard variable overhead cost: $26.00 per pound of glass. Total actual variable overhead cost: $24,800.
Standard variable overhead cost allowed for units produced was $26,000. Variable overhead efficiency variance was $540 unfavorable.
Is standard direct material amount per bottle.

• A) 13.00 pounds
• B) .50 pound
• C) 2.80 pounds
• D) None of these answers is correct.

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by adding all the numbers together and dividing by the count of numbers.

Variance

A measure of the dispersion or spread of a set of data points around their mean value.

Degrees of Freedom

The number of independent values or quantities that can vary in the calculation of a statistic, often necessary for assessing the significance of the statistic.

Student t Distribution

The Student t-distribution is a probability distribution used in statistics, especially in situations where the sample size is small and the population variance is unknown.