Based on Past Experience,only 0

question 151

Short Answer

Based on past experience,only 0.5% of the invoices of a company contain an error.Out of the 1,500 invoices that the company will issue,what is the approximate probability that exactly 2 invoices will contain an error?

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Definitions:

Variable Factory Overhead

Costs that fluctuate with the level of production, such as utilities and materials used in the manufacturing process.

Direct Labor Cost

The total cost of all labor that can be directly attributed to the manufacturing or production of goods or services.

Controllable Cost

Expenses that can be influenced or managed by decisions made by a manager or a business, such as materials or labor.

Supervisor

An individual in charge of overseeing and directing the work of a group of people.