Compute the Missing Value.​

question 18

Short Answer

Compute the missing value.​
​
a.Manufacturing increased from 2,200 packages per day to 2,750 packages per day; the percent increase was __________.
b.Base value = $360; increase = 15%; new (final) value = __________
c.Increasing the base value _________ by 300% gives an increase of 720 units.

Recognize the difference between standard and actual costs, and their relevance to budgeting and forecasting.

Understand the selection criteria and applications of costing systems in manufacturing processes.

Comprehend the accounting treatment of normal and abnormal spoilage in cost accounting.

Grasp the concept of equivalent units and how they are used in process costing, including differences between weighted average and FIFO methods.

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Definitions:

Probability Distribution

A function in mathematics that offers the chances of various outcomes happening in an experiment.

Average Profit

The mean amount of profit earned, calculated by dividing the total profit by the number of units sold or the period over which the profit was earned.

Weight Gain

An increase in body weight, which can be due to muscle mass increase, fat accumulation, or other factors.

Probability Distribution

A mathematical description of the likelihood of different outcomes in an experiment, showing how probabilities are distributed over a range of values.