Use the Information Below to Answer the Following Question(s)

question 31

Multiple Choice

Use the information below to answer the following question(s) .
Daniel Inc.expects to sell 6,000 ceramic vases for $20 each in 2015.Direct materials costs are $2,direct manufacturing labour is $10,and manufacturing overhead is $3 per vase.Each vase requires 0.5 kilograms (kg) of material which is all added at the start of production.The units in work-in-process beginning and ending inventory were half complete as to direct labour and manufacturing overhead costs;the units in beginning inventory are completed before new units are started.Each vase requires one hour of direct labour,and manufacturing overhead is allocated based on direct labour hours.The following inventory levels are expected to apply to 2015:

-On the 2015 budgeted income statement,what amount will be reported for gross margin?

• A)$122,000
• B)$90,000
• C)$48,000
• D)$30,000
• E)$120,000

Understand how to calculate different sample sizes from a given population.

Learn to estimate a population parameter using sample data.

Understand the concepts of point estimates and their calculation.

Comprehend the central limit theorem and its implications on the sampling distribution.

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Definitions:

Classical Conditioning

A conditioning method where the continuous association of two stimuli results in a reaction, which initially is caused by the second stimulus, to be later initiated by the first stimulus by itself.

Postindustrial

Relating to a period or society in which manufacturing industry is no longer the principal economic activity, typically marked by the growth of services, information, and technology sectors.

Waist-to-Hip Ratio

A measurement that compares the circumference of the waist to that of the hips to assess body fat distribution and potential health risks.

Income

The amount of money received by an individual or group over a certain period, typically earned through work, investments, or other sources.