A Gentleman Farmer Maniacally Works on Academic Projects to Raise

question 101

Multiple Choice

A gentleman farmer maniacally works on academic projects to raise funds for his true passion,farming.He has identified seven tasks and developed three time estimates (all in days) of the next big project on the farm,replacing the fence at the comedy pasture.Tasks,precedence requirements,and time estimates are shown in the table.What is the probability that the project takes more than 34 days? $\begin{array}{|l|l|l|l|l|}\hline \text { Activity } & \begin{array}{l}\text { Optimistic } \\\text { time }\end{array} & \begin{array}{l}\text { Most Likely } \\\text { time }\end{array} & \begin{array}{l}\text { Pessimistic } \\\text { time }\end{array} & \text { Predecessor } \\\hline \text { Corner Posts } & 4 & 5 & 6 & \text { - } \\\hline \text { String Line } & 7 & 8 & 9 & - \\\hline \text { Dig Holes } & 10 & 12 & 14 & \text { Corner Posts } \\\hline \text { Plant Posts } & 11 & 14 & 17 & \text { String Line } \\\hline \text { Weld Top Bar } & 8 & 11 & 14 & \text { String Line } \\\hline & & & & \text { Dig Holes, Plant } \\ \text { Paint } & 9 & 11 & 13 & \text { Posts } \\\hline \text { Tack Wire } & 9 & 12 &16& \text { Weld Top Bar } \\\hline\end{array}$

• A)0.788
• B)0.212
• C)0.945
• D)0.055

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Definitions:

Customizing Department

A specialized department within an organization that tailors products or services to meet specific customer requirements.

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate overhead costs to products based on a certain basis such as labor hours or machine hours.

Job-Order Costing

A costing system used to accumulate costs of manufacturing a job or batch, where each job or batch has its distinct characteristics.

Predetermined Overhead Rate

This rate is calculated before a period begins and is used to apply overhead costs to products based on a selected activity base.