Exhibit 6-9 The Average Price of Personal Computers Manufactured by MNM Company

question 80

Multiple Choice

Exhibit 6-9
The average price of personal computers manufactured by MNM Company is $1,200 with a standard deviation of $220. Furthermore, it is known that the computer prices manufactured by MNM are normally distributed.
-Refer to Exhibit 6-9. If 513 of the MNM computers were priced at or below $647.80, how many computers were produced by MNM?

• A)185,500
• B)85,500
• C)513,000
• D)not enough information is provided to answer this question

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Definitions:

Net Income

The conclusive financial gain of a company upon subtracting every expense and tax from its total sales revenue.

Owner Drawings

Withdrawals of cash or other assets from a company by the owner for personal use.

Revenue

The total income generated by a business from its normal business operations.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, used to check the equality of debits and credits and prepare for the next accounting period.