The Local Amusement Park Was Interested in the Average Wait

question 35

Multiple Choice

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.) . They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stop watch to record the time they spent in line. The times recorded were as follows (in minutes)
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118

-What are the inner fences?

• A)108.50,128.50
• B)80.50,154.00
• C)127.75,138.25
• D)143.50,154.00
• E)15.75,31.50

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Definitions:

Work in Process Inventory

The inventory that includes goods in the middle of the manufacturing process, not yet completed.

Manufacturing Overhead

Refers to all indirect costs associated with manufacturing a product, including costs related to factory equipment maintenance, utilities, and quality control.

Debit Side

The left side of an account in double-entry bookkeeping, used to record increases in assets, expenses, and losses or decreases in liabilities, equity, and revenue.

Overapplied Overhead

Occurs when the overhead allocated to products or services exceeds the actual overhead costs incurred.