THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 204

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A brand manager is interested in determining if consumers prefer the new fragrance associated with a detergent.She surveyed 212 consumers and has them rank the new and old fragrances on a scale of 1 to 10.Of the 198 consumers who scored a different score on the new fragrance than on the old,the absolute values of the differences in their ratings were ranked.The smaller of the ranked sums,8,208,was for those individuals who rated the original fragrance higher.
-Is there evidence that the consumers rated the new fragrance higher?

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Definitions:

Overapplied

A condition where the manufacturing overhead allocated to products exceeds the actual manufacturing overhead costs incurred.

Underapplied

A situation in cost accounting where the allocated overhead costs are less than the actual overhead costs.

Predetermined Overhead Rate

The predetermined overhead rate is a rate used to allocate manufacturing overhead costs to products or job orders, based on estimated overhead costs and activity levels.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the standard cost allocated, indicating inefficiencies or cost control issues.