The Customer Service Department of H&R Block Received a Total

question 82

Multiple Choice

The customer service department of H&R Block received a total of 235 telephone requests for a tip-
Sheet on personal tax or corporate tax. The following table summarizes callers' primary area of
Interest, and how they first heard about the tip-sheet.
Suppose that a caller is selected at random. Find the probability that the caller selected is interested
In personal tax, if they heard about the report from the radio.

• A) 34/100
• B) 34/235
• C) 34/135
• D) 34/70

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Definitions:

Gross Margin

The difference between sales revenue and cost of goods sold, expressed as a percentage of sales revenue, indicating the financial health and profitability of a business.

Absorption Costing

An approach to costing that encompasses all costs associated with manufacturing, including direct materials, direct labor, as well as variable and fixed manufacturing overheads, in the product cost.

Absorption Costing

A strategy in accounting practice that aggregates all manufacturing expenses, from direct materials and labor to variable and fixed overheads, into the determination of a product's cost.

Break-Even Sales

The amount of revenue required to cover both the variable and fixed costs of a business, indicating no profit and no loss.