Answer:
$36,000
Explanation:
The computation of the lggie's salary is shown below:
= (Iggie salary in 1974) × (2003 price index ÷ 1974 price index)
= ($10,000) × (180 ÷ 50)
= $10,000 × 3.6
= $36,000
Since we have to compute the 2003 salary based on 1974 salary so we consider the 1974 salary and took the 2003 price index as a numerator and 1974 price index as a denominator.
Answer:
a or b is the answer I am not sure so I gave two options
The given statement " If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was about 3 percent " is TRUE
Explanation:
Though prices doubled during the 23 years, the average annual inflation rate during that time could be inferred by approximately 3 percent.
The average inflation rate in the USA has been 3% over the last 100 years. That said, in measuring shorter periods starting in the 1950s, the average rates are much higher.
Many financial experts working with pending pensioners emphasize the importance of contributing to pension scheming an average inflation rate. Since inflation will reduce the value of savings considerably, it is important to determine how and when this powerful economic phenomenon will affect the savings.
Answer:
Ending work-in-process inventory is $816,000
Explanation:
Work in process Inventory is the inventory which is in the production process.
Cost of Good Manufacture = Total Manufacturing costs + Beginning work-in-process inventory - Ending work-in-process inventory
$264,000 = $780,000 + $300,000 - Ending work-in-process inventory
$264,000 = $1,080,000 - Ending work-in-process inventory
Ending work-in-process inventory = $1,080,000 - $264,000
Ending work-in-process inventory = $816,000
