The person who is right and justify the reason.

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Answer 1

Question

Chapter 4, Problem 1QP

Summary Introduction

To determine: The person who is right and justify the reason.

Expert Solution & Answer

Explanation of Solution

Given information:

MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP

Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.

Determine the person who is right and justify the reason:

According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the factory overhead cost is a fixed cost and it is not a variable cost. The factory overhead cost is sunk cost that must be paid irrespective of the type of hot tub produced.

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Answer 2

Question

Chapter 4, Problem 1QP

Summary Introduction

To determine: The person who is right and justify the reason.

Expert Solution & Answer

Explanation of Solution

Given information:

MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP

Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.

Determine the person who is right and justify the reason:

According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the factory overhead cost is a fixed cost and it is not a variable cost. The factory overhead cost is sunk cost that must be paid irrespective of the type of hot tub produced.

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Answer 3

Question

Chapter 4, Problem 1QP

Summary Introduction

To determine: The person who is right and justify the reason.

Expert Solution & Answer

Explanation of Solution

Given information:

MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP

Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.

Determine the person who is right and justify the reason:

According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the factory overhead cost is a fixed cost and it is not a variable cost. The factory overhead cost is sunk cost that must be paid irrespective of the type of hot tub produced.

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Answer 4

Question

Chapter 4, Problem 1QP

Summary Introduction

To determine: The person who is right and justify the reason.

Expert Solution & Answer

Explanation of Solution

Given information:

MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP

Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.

Determine the person who is right and justify the reason:

According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the factory overhead cost is a fixed cost and it is not a variable cost. The factory overhead cost is sunk cost that must be paid irrespective of the type of hot tub produced.

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Answer 5

Chapter 4, Problem 1QP

Summary Introduction

To determine: The person who is right and justify the reason.

Expert Solution & Answer

Explanation of Solution

Given information:

MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP

Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.

Determine the person who is right and justify the reason:

According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the factory overhead cost is a fixed cost and it is not a variable cost. The factory overhead cost is sunk cost that must be paid irrespective of the type of hot tub produced.

Answer 6

Chapter 4, Problem 1QP

Summary Introduction

To determine: The person who is right and justify the reason.

Expert Solution & Answer

Explanation of Solution

Given information:

MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP

Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.

Determine the person who is right and justify the reason:

According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the factory overhead cost is a fixed cost and it is not a variable cost. The factory overhead cost is sunk cost that must be paid irrespective of the type of hot tub produced.

Answer 7

Chapter 4, Problem 1QP

Summary Introduction

To determine: The person who is right and justify the reason.

Answer 8

Expert Solution & Answer

Explanation of Solution

Given information:

MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP

Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.

Determine the person who is right and justify the reason:

According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the factory overhead cost is a fixed cost and it is not a variable cost. The factory overhead cost is sunk cost that must be paid irrespective of the type of hot tub produced.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 4 - Prob. 1QP Ch. 4 - Prob. 2QP Ch. 4 - Prob. 3QP Ch. 4 - Prob. 4QP Ch. 4 - Prob. 5QP Ch. 4 - Prob. 6QP Ch. 4 - Prob. 7QP Ch. 4 - Prob. 8QP Ch. 4 - Prob. 9QP Ch. 4 - Prob. 10QP

The person who is right and justify the reason.

Concept explainers

To determine: The person who is right and justify the reason.

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Chapter 4 Solutions