All categories

3 years ago

Suppose the price of corn rises from $30 in January to $32 in February to $32.7 in March. What is the March inflation rate

1 answer:

3 0

The inflation rate formula is ( CPI2 - CPI1 )
      -------------------- x100
      CPI1
CPI2 = Price of the latter date
CPI1 = Price of the earlier date

So the latter price is $32.7 and the earlier is $32 (I'm assuming you mean the inflation from January to February)

Then plug in the numbers ( 32.7 - 32 )
      ---------------- x100
   32
32.7 - 32 = .7/32 = .021875 x 100 = 2.1875

Which means the answer would be if you round 2.2%

You might be interested in

If a payment is directly deducted from your account, which type of card are you using?

Mekhanik [1.2K]

This is a debit card

It's a simple card where you just use it to pay with money directly from your account. If you don't have money on your account, you can't pay. There's no credits or anything similar.

8 0

3 years ago

P&g "tide loads of hope" program provides mobile laundromats and loads of clean laundry to families in disaster-stricken are

BaLLatris [955]

The answer to this question is Social responsibility
Social responsibility marketing refers to the marketing effort that carried out while doing something that added a certain value for society.
Usually being done by giving food stamps, free scholarship, environmental actions, charities, etc.

4 0

3 years ago

On March 8, Monty Candy Company bought supplies on account from the Arcade Fire Company for $664. Monty Candy Company incorrectl

GalinKa [24]

Answer:

Correcting Entry

March 8 Dr. Cr.

Supplies $664

Equipment $600

Account Payable $64

Explanation:

Entry Should be

March 8 Dr. Cr.

Supplies $664

Account Payable $664

Entry Recorded

March 8 Dr. Cr.

Equipment $600

Account Payable $600

Firs error is amount recorded as $600 rather $664 and the second is account of equipment debited rather the account of Supplies Inventory.

3 0

3 years ago

Matt owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2, 70

Lady bird [3.3K]

Answer:

The variable rate is 0.4 $/machine-hour.

The equation fot the utility bill is $C(M)=0.4*M+2180$ .

If Matt anticipates using 1200 machine hours in January, his utility bill will be $ 2660.

Explanation:

We have two points in the year that will let us calculate the fixed utility cost and the variable utility cost.

We will end up with a equation of a line, like this

$C(M)=v*M+F$

Where C (M) is the total utility cost, v is the variable utility cost per machine hour, M are the machines running hours and F is the fixed utility cost.

We have two unknowns and two equations, so it can be solved.

First we can substract the two bills (the highest and the lowest) and equal that to the equation of the line we described

$(2700-2500)=C(1300)-C(800)=(v*1300+F)-(v*800+F)\\\\200=v*1300+F-v*800-F=500*v\\\\v=200/500=0.4$

The variable rate is 0.4 $/machine-hour.

Then we can replace v in one of the equations

$2500=C(800)=0.4*800+F\\\\2500=320+F\\\\F=2500-320=2180$

The fixed utility cost are 2180 $/month.

The equation fot the utility bill is $C(M)=0.4*M+2180$ .

If Matt anticipates using 1200 machine hours in January, his utility bill will be $ 2660.

$C(1200)=0.4*1200+2180=480+2180=2660$

3 0

3 years ago

Crane has year-end account balances of Sales Revenue $795,635, Interest Revenue $14,740, Cost of Goods Sold $567,566, Administra

zepelin [54]

Answer:

Closing entries

Journal 1

Debit : Sales Revenue $795,635

Credit : Income Statement $795,635

Journal 2

Debit : Interest Revenue $14,740

Credit : Income Statement $14,740

Journal 3

Debit : Income statement $567,566

Credit : Cost of Goods Sold $567,566

Journal 4

Debit : Income Statement $205,540

Credit : Administrative Expenses $205,540

Journal 5

Debit : Income statement $35,298

Credit : Income Tax Expense $35,298

Journal 6

Debit : Retained Earnings Statement $20,554

Credit : Dividends $20,554

Explanation :

To prepare closing entries, first identify the final statement to which the Account belong to. For example, the Sales Revenue belong to the Income Statement. Then close off the Account using the final statement identified as above.

7 0

3 years ago