Find the Sample Variance for the Following Data Set $\begin{array} { l l l l l } 23 & 14 & 32 & 29 & 17\end{array}$

question 14

Multiple Choice

Find the sample variance for the following data set: $\begin{array} { l l l l l } 23 & 14 & 32 & 29 & 17\end{array}$

• A) 7.6
• B) 18
• C) 58.5
• D) 46.8

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Definitions:

Factory Overhead

all indirect costs associated with the manufacturing process, excluding direct labor and direct materials.

Machine Hours

A measure of production time or activity based on the number of hours machines are used in the manufacturing process.

Overapplied Overhead

A situation where the actual manufacturing overhead costs are less than the overhead costs applied to production, resulting in a variance.

Factory Overhead

All indirect costs associated with manufacturing a product, including the costs of running the factory but excluding direct materials and direct labor.