Figure 5-5

question 176

Multiple Choice

Figure 5-5.Brillant Design Company makes custom chairs for individual customers. On October 1, there was one job in process, Job 243, with a cost of $1,300. Jobs 244, 245, and 246 were started during the month of October. Data on costs added during the month are as follows:
Overhead is applied to production at the rate of 70% of direct labor cost. Job 245 was completed on October 14 and the client was billed at cost plus 55%. All other jobs remained in process.
-Refer to Figure 5-5. What is the price of Job 245?

• A) $20,204.20
• B) $10,627.70
• C) $22,310.50
• D) $18,761.20
• E) $14,399.50

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Definitions:

Medical Instruments

Tools and devices used in the practice of medicine for diagnosis, prevention, and treatment of diseases.

P-Value

The likelihood of encountering test outcomes as significant as or more than the actual observed results, assuming the null hypothesis is valid.

Null Hypothesis

The proposition that observed differences among specific populations are attributed to errors in sampling or experimentation, hence indicating no major divergence.

Level Of Significance

The threshold chosen for deciding whether an observed effect is statistically significant, usually denoted by alpha.