The Following Table Contains Data from a Study of Two

question 23

Multiple Choice

The following table contains data from a study of two airlines which fly to Small Town, USA. If one flight is selected, find P(on time and Upstate Airlines) . $\begin{array}{l|cc} & \begin{array}{l}\text { Number of flights } \\\text { which were on time }\end{array} & \begin{array}{c}\text { Number of flights } \\\text { which were late }\end{array} \\\hline \text { Podunk Airlines } & 33 & 6 \\\text { Upstate Airlines } & 43 & 5\end{array}$

• A) \(\frac { 11 } { 76 }\)
• B) \(\frac { 43 } { 76 }\)
• C) \(\frac { 43 } { 87 }\)
• D) None are correct

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Definitions:

Overhead

Ongoing business expenses not directly attributed to creating a product or service, such as rent, utilities, and administrative costs.

Standard Labor Hours

The predetermined amount of time expected to complete a task or produce a unit of goods under normal conditions.

Manufacturing Cost Variance

The difference between the actual manufacturing costs and the standard or budgeted costs.

Actual Costs

The realized expenses incurred during the production or acquisition of goods and services.