The Two-Way Table Summarizes Data from the Human Resource Department

question 42

Multiple Choice

The two-way table summarizes data from the human resource department at a university:
New Hires
What is the probability (rounded to three decimal places) that a new hire is female?

• A)0.487
• B)0.434
• C)0.513
• D)0.250

---

Definitions:

Overhead Applied

This term refers to the allocation of overhead costs to specific cost objects, such as products or projects, based on a predetermined rate.

Overapplied

A situation where the allocated indirect costs exceed the actual indirect costs incurred.

Predetermined Overhead Rates

An estimated rate used to allocate manufacturing overhead to individual products or job orders, calculated at the beginning of an accounting period.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct labor and materials, like utilities and equipment depreciation.