Darrius Travel Services Provided the Following Information

question 167

True/False

Darrius Travel Services provided the following information:
Cost allocation rate for direct labor: $40 per hour
Cost allocation rate for indirect costs: $22 per hour
Darrius is negotiating a job with a new client. The job will require 10 hours of direct labor. If Darrius wishes to make at least 15% gross profit on the deal, they need to receive $713 of revenues.

---

Definitions:

Variance

A measure of the dispersion of a set of data points around their mean value, indicating how spread out the data points are.

Standard Deviation

A measure of the dispersion or spread of a set of values, calculated as the square root of the variance, indicating how much the values deviate from the mean.

Standard Deviation

An assessment of how much the values in a group differ or spread out.

Variance

A metric indicating how spread out a group of numbers is, determined by the mean of the squared deviations from the average.