THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 63

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The length of time it takes to be seated at a local restaurant on Friday night is normally distributed with a mean of 15 minutes and a standard deviation of 4.75 minutes.
-A fair coin is flipped 100 times.The probability of obtaining between 40 and 60 heads is approximately:

• A)0.6826
• B)0.7518
• C)0.9544
• D)0.9973

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Definitions:

Allocation Base

A measure or statistic used to distribute indirect costs to different cost objects, such as departments or products.

Budgeted Overhead

The estimated amount of all indirect costs associated with the production process or project.

Single Plantwide

A method used to allocate manufacturing overhead to products, using a single overhead rate for the entire manufacturing plant.

Overhead Rate

The rate at which indirect costs are allocated to produced goods or services, often expressed as a percentage of direct labor or materials cost.