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Mumz [18]
3 years ago
11

In 2000 Amelia was being paid $7,200 per week. The CPI was 0.418 in 2000. In 2020 Amelia found a job paying $35,000 per week. Th

e CPI is 2.40 in 2020. Amelia’s job in 2000 paid ________ in nominal terms and ________ in real terms than her 2020 job.
Business
1 answer:
AleksAgata [21]3 years ago
7 0

Answer:

Explanation:

Real wage is defined as the nominal wage divided by the general price level, CPI. It is also the purchasing power of nominal wage.

Nominal wages are the wages received by a worker in the form of money.

Given:

In 2000:

Amelia nominal salary = $7,200 per week. CPI = 0.418

In 2020:

Amelia nominal salary = $35,000 per week

CPI = 2.40

Where CPI is an inflation measure.

Real salary = salary /(1 + inflation rate)

Inflation rate = (CPI2 - CPI1)/CPI1 × 100

Real salary I = salary/CPI

Real salary in 2000 = 7200/0.418

= $17224.88 per week

Real salary in 2020 = 35000/4.74

= $7384 per week

Nominal salary in 2000 compared to that in 2020,

Finding the difference = $7200 - $35000

= -$27800 per week

Real salary in 2000 compared to that in 2020,

Finding the difference = $17224.9 - $7384

= $9840.9 per week

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no it is not bad to have hair painted on the id

3 0
2 years ago
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At the beginning of January of the current year, Little Mikey's Catering ledger reflected a normal balance of $70,000 for accoun
inysia [295]

Answer:

end of January  balance in the accounts receivable account should be $65900

Explanation:

given data

accounts receivable = $70,000

customers on account = $18,400

account totaling = $14,300

services to be provided  = $6,800

to find out

balance in the accounts receivable account

solution

balance in the accounts receivable account will be find as

Balance of Accounts Receivable = Beginning balance + Revenue from earned services - Collections during the period     ........................1

put here value

Balance of Accounts Receivable  = 70000 + 14300 - 18400

Balance of Accounts Receivable  = $65900

so  

end of January  balance in the accounts receivable account should be $65900

7 0
3 years ago
The University Store, Inc. is the major bookseller for four nearby colleges. An income statement for the first quarter of the ye
Effectus [21]

Answer: $30,000

Explanation:

Sales are $800,000 and the average price is $40. Number of units sold is;

= 800,000/40

= 20,000 units

Sales                $ 800,000  

<em>Less</em>: Cost of Goods Sold                 ($560,000)  

Gross Margin                  <u>$240,000</u>  

Less : Variable Costing  

Selling Expenses (20,000 units X $3.00)                  ($60,000)

Administrative Expenses (5% of $ 800,000)               ($40,000)  

Contribution Margin               <u> $140,000</u>  

Less: Fixed Cost  

Selling Expenses ($100,000 - $60,000)                    ($40,000)  

Administrative Expenses ($110,000 -$40,000)                     ($70,000)  

Net Operating Income                  <u> $30,000</u>  

3 0
3 years ago
A grocery chain is considering the installation of a set of 4 self-checkout lanes. The new self-checkout lane setup will replace
Mekhanik [1.2K]

Answer:

a. 2560 checkout

b. 3072 checkout

c. Old system = 3.85 checkout/$

New system = 5.56 checkout/$

Explanation:

Given:

Checkout lanes = 4

a.

How many checkouts did the old system provide in a shift?

Given

Lanes = 2

Time in use = 16 hours --- Convert to seconds

Time = 16 * 3600 = 57600 seconds

Checkout = 1 per 45 seconds

Number of check outs is calculated as:

2 lanes * 57600 seconds * 1 checkout / 45 seconds

Number of checkout = 2560 checkouts

b.

How many checkouts does the new system provide?

Lanes = 4

TimeTime in use = 16 hours --- Convert to minutes

Time = 16 * 60 = 960 minutes

Number of check outs is calculated as:

4 lanes * 960 minutes * 1 checkout / 1.25 minutes

Number of checkout = 3072 checkouts

c.

Given

Electricity costs for both setups are $0.06 per checkout

Bagging (material) costs are $0.12 per checkout with the old system

Bagging (material) costs are $0.20 per checkout with the old system

Cost for the old system is calculated by:

$0.06 * 2560 + $0.12 * 2560

= $153.6 + $307.2

= $460.3

Multifactor = 2560 checkout/$460.3

Multifactor = 5.56 checkout/$

Cost for the new system is calculated by:

0.06 * $3072 + 0.20 * $3072

= $184.32 + $614.4

= $798.72

Multifactor = 3072 checkout/$798.72

Multifactor = 3.85 checkout/$

6 0
3 years ago
For revenue managers working in the lodging industry the term ""Place"" in the 4P’s of the Marketing Mix refers to two items. On
Ilya [14]

Answer:

The property's distribution channels.

Explanation:

The marketing mix is commonly performed through the 4 P’s of marketing which are:

Price.

Product.

Promotion and

Place.

And the term 'Place' or 'Placement' in the 4 P’s of the marketing mix has to do with how the service will be rendered to the customer. And this refers to the physical location of the hotel and distribution channels, that is, how the service can be rendered to the customer and help assess what channel is the most suited to a service.

4 0
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