The Registrar of Computronics Institute Has Compiled the Following Statistics

question 134

Multiple Choice

The registrar of Computronics Institute has compiled the following statistics on the progress of the school's students in their 2-yr computer programming course leading to an associate degree: Of beginning students in a particular year, 80% successfully complete their first year of study and move on to the second year, whereas 20% drop out of the program; of second-year students in a particular year, 85% go on to graduate at the end of the year, whereas 15% drop out of the program. Determine the probability that a beginning student enrolled in the program will complete the course successfully.
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• A) 0.9
• B) 0.75
• C) 0.68
• D) 0.51

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Definitions:

Direct Materials

The raw materials that are directly used in the manufacturing of a product and can be easily traced to it.

Job 101

A specific task or project identified by a numerical code, often used in job costing systems to track costs and progress.

Predetermined Overhead Rate

A rate calculated before a period begins, based on the estimated overhead costs and estimated activity base, used to allocate overhead costs to products or job orders.

Manufacturing Overhead Account

An account that accumulates all indirect manufacturing costs, such as utilities, rent, and salaries for managers.