Numbered Disks Are Placed in a Box and One Disk $\frac { 1 } { 7 }$

question 161

Multiple Choice

Numbered disks are placed in a box and one disk is selected at random. If there are 7 red disks numbered 1through 7, and 6 yellow disks numbered 8 through 13, find the probability of selecting a disk numbered 3,given that a red disk is selected.

• A) \(\frac { 1 } { 7 }\)
• B) \(\frac { 7 } { 13 }\)
• C) \(\frac { 1 } { 13 }\)
• D) \(\frac { 6 } { 13 }\)

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Definitions:

Materials Price Variance

The difference between the actual cost of materials and the standard cost multiplied by the actual quantity used.

Standard Price

The anticipated or predetermined cost of a product, often used as a reference for evaluating actual costs.

Gallons

A unit of measurement for volume, commonly used to measure liquids.

Direct Labor Price Variance

A measure used in managerial accounting to calculate the difference between the actual cost of direct labor and the expected (or standard) cost, affecting the overall cost of production.