THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 205

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An investment advisor recently reviewed the account activity of a sample of 10 of his clients and calculated the average number of stock trades per month over the past year for each client.He obtained the following data values: 10.2,2.5,11.4,3.2,1.1,3.4,8.4,9.7,11.2,and 2.4.
-Construct a cumulative frequency distribution of the data.

---

Definitions:

Actual Total Labour Cost

The real amount spent on wages and benefits for employees involved in the production process during a specific period.

Standard Labour Rate

The pre-established rate per hour that a company expects to pay for direct labor.

Actual Units

The real quantity of items produced, sold, or consumed, as opposed to planned or theoretical quantities.

Variable Overhead Spending Variance

This is the difference between the actual variable overheads incurred and what was expected or budgeted, based on the actual level of production activity.