Which of the Following Is Not a Legitimate Probability Value

question 3

Multiple Choice

Which of the following is not a legitimate probability value?

• A)0.67
• B)15/16
• C)0.23
• D)4/3
• E)0.98

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Definitions:

Standard Costing

A cost accounting method that assigns fixed overhead costs to goods produced based on standard cost rates, helping to analyze variances between expected and actual costs.

Direct Labour Hours

The total hours worked by production employees that are directly involved in the manufacturing process.

Direct Labour Efficiency Variance

The difference between the actual number of labor hours worked and the standard hours expected, multiplied by the standard labor rate.