Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company’s operations. Standard Custom Direct labor costs $50,000 $100,000 Machine hours 1,500 1,200 Setup hours 90 390 Total estimated overhead costs are $294,600. Overhead cost allocated to the machining activity cost pool is $189,000, and $105,600 is allocated to the machine setup activity cost pool. (a) Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate enter the overhead rate as percentage of direct labor cost rounded to 2 decimal places % of direct labor cost
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Answer:
random sample from a population. Before performing a statistical inference, what should you do?
b) The following data displays the budgets, in dollars, of 45 randomly sampled home improvement jobs in the United States.
3179 1032 1822 4093 2285 1478 955 2773 514
3915 4800 3843 5265 2467 2353 4200 3146 551
2659 4660 3570 1598 2605 3643 2816 3125 3104
4503 2911 3605 2948 1421 1910 5145 4557 2026
2750 2069 3056 2550 631 4550 5069 2124 1573
i. Obtain a 95% confidence interval for the population mean budget, μ, for such home improvement jobs and interpret your result in words. Assume that the population standard deviation of budgets for home improvement jobs is $1350.
ii. How would you decide whether budgets for such home improvement jobs are approximately normally distributed?
iii. Must the budgets for such home improvement jobs be exactly normally distributed for the confidence interval that you obtained in part (i) to be approximately correct? Explain your answer.
. Identify the steps involved in achieving improvement in communication within the organization
(A) Sending messages. Use of multiple channels, Promoting inter-group communication
(B) Simple messages, Use of multiple channels, promoting inter-group interaction
(C) Simple messages. Use of multiple channels, promoting inter-group communication
(D) Simple messages, Use of multiple methods, promoting inter-group communication. Identify the steps involved in achieving improvement in communication within the organization
(A) Sending messages. Use of multiple channels, Promoting inter-group communication
(B) Simple messages, Use of multiple channels, promoting inter-group interaction
(C) Simple messages. Use of multiple channels, promoting inter-group communication
(D) Simple messages, Use of multiple methods, promoting inter-group communicationrandom sample from a population. Before performing a statistical inference, what should you do?
b) The following data displays the budgets, in dollars, of 45 randomly sampled home improvement jobs in the United States.
3179 1032 1822 4093 2285 1478 955 2773 514
3915 4800 3843 5265 2467 2353 4200 3146 551
2659 4660 3570 1598 2605 3643 2816 3125 3104
4503 2911 3605 2948 1421 1910 5145 4557 2026
2750 2069 3056 2550 631 4550 5069 2124 1573
i. Obtain a 95% confidence interval for the population mean budget, μ, for such home improvement jobs and interpret your result in words. Assume that the population standard deviation of budgets for home improvement jobs is $1350.
ii. How would you decide whether budgets for such home improvement jobs are approximately normally distributed?
iii. Must the budgets for such home improvement jobs be exactly normally distributed for the confidence interval that you obtained in part (i) to be approximately correct? Explain your answer.
. Identify the steps involved in achieving improvement in communication within the organization
(A) Sending messages. Use of multiple channels, Promoting inter-group communication
(B) Simple messages, Use of multiple channels, promoting inter-group interaction
(C) Simple messages. Use of multiple channels, promoting inter-group communication
(D) Simple messages, Use of multiple methods, promoting inter-group communicationrandom sample from a population. Before performing a statistical inference, what should you do?
b) The following data displays the budgets, in dollars, of 45 randomly sampled home improvement jobs in the United States.
3179 1032 1822 4093 2285 1478 955 2773 514
3915 4800 3843 5265 2467 2353 4200 3146 551
2659 4660 3570 1598 2605 3643 2816 3125 3104
4503 2911 3605 2948 1421 1910 5145 4557 2026
2750 2069 3056 2550 631 4550 5069 2124 1573
i. Obtain a 95% confidence interval for the population mean budget, μ, for such home improvement jobs and interpret your result in words. Assume that the population standard deviation of budgets for home improvement jobs is $1350.
ii. How would you decide whether budgets for such home improvement jobs are approximately normally distributed?
iii. Must the budgets for such home improvement jobs be exactly normally distributed for the confidence interval that you obtained in part (i) to be approximately correct? Explain your answer.
Overhead Rate
Explanation:
Pls refer to the attached pics
