For the Binomial Distribution with the Given Values for N $\mathrm { n } = 19 \text { and } \mathrm { p } = 0.8$

question 84

Multiple Choice

For the binomial distribution with the given values for n and p, state whether or not it is suitable to use the normal
distribution as an approximation.
- $\mathrm { n } = 19 \text { and } \mathrm { p } = 0.8$

• A) Normal approximation is not suitable.
• B) Normal approximation is suitable.

Interpret the financial implications of overhead cost variances for decision-making.

Analyze the components of a predetermined overhead rate and its calculation.

Evaluate the financial outcomes concerning standard and actual costs in manufacturing.

Develop skills in preparing complete standard costing analysis, including variance analysis.

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