Historical records on a certain product indicate the following behavior for demand.The data represent the 288 days that the business was open during 2000.Convert these data into random number intervals.
Definitions:
Predetermined Overhead Rates
Predetermined overhead rates are calculated by dividing estimated overhead costs by an allocation base, such as direct labor hours, used to assign overhead costs to products or services.
Manufacturing Overhead
All indirect costs associated with the manufacturing process, including indirect labor, materials, and other expenses not directly tied to production.
Machine-Hours
The total time, calculated in hours, that machinery is operational and working on production tasks during a given period.
Molding
The process of shaping a raw material using a rigid frame or model known as a mold.
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