The Company Financial Officer Was Interested in the Average Cost

question 190

Multiple Choice

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. A random sample of the price of 10 computers was taken with the following results;
$3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000

-What is the 90^th percentile?

• A)$1,446.5
• B)$2,617
• C)$3,415.75
• D)$3,587
• E)$5,060

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Definitions:

Budgeted Sales

Projected revenue from goods or services sold, as estimated during a company's budgeting process.

Manufacturing Overhead Budget

An estimation of all manufacturing costs excluding direct materials and direct labor, planned for a specific period.

Direct Labor-Hour

A measure of the amount of time, typically in hours, that direct labor work directly on producing goods.

Budgeted Overhead

An estimate of all costs associated with production that are not direct labor or direct materials costs, projected for a specific period.