Suppose the consumer price index (cpi) for year x is 130. this means the average price of goods and services is <u>Prices have increased by 30% from the base year to the current year.</u>
The consumer price Index measures the overall change in patron charges primarily based on a representative basket of goods and offerings through the years. The CPI is the maximum widely used measure of inflation, closely followed by means of policymakers, financial markets, organizations, and purchasers.
The CPI is one of the most commonly used equipment to measure inflation and deflation. Inflation is a vital indicator of an economic system's fitness. Governments and central banks use the CPI and different indices to make monetary selections. The key amongst these is whether or not to raise or lower interest fees.
A consumer price index is a rate index, the price of a weighted average market basket of customer items and services bought through households. Changes in measured CPI track adjustments in costs over the years.
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Answer:d. Top management must be strongly committed to TQM and must coordinate the specific elements of a TQM program so they work in harmony with each other.
Explanation:
What is meant by Total quality management?
This is system used by a company to fully manage all the working and running of their business by setting principles which will be followed by all the employees in order for the company to reach and keep high standards of their overall operations.
FIFO is cost flow assumption that generally results in the highest reported amount of net income in periods of rising inventory costs.
<h3>What is First In, First Out?</h3>
First In, First Out, can be regarded as the is an asset-management techniques which is been used in analyzing assets.
With this techniques the asset that is usually disposed first are those that are first gotten, and this is usually done for the purpose of tax, and uses the assumption that there inclusion of old items in income statement.
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Answer:
The annual capacity is 85000 units. If order is accepted of 12000 units the company will be able to sell only 73000 units (instead of 78000).
Explanation:
Current Net Income calculation and New Net Income calculation are atteched in the archive.
- Increase in income = new income – old income = 370000 – 340000 = $30000
- Marston’s Net Income will INCREASE by $30,000 if it accepts the special order.
- The above increase can be also understood as---
Contribution gain on special order – 12000 units x ($105-$90) = $180,000
(-) Contribution lost of normal sale – (78000 units – 73000 units) x ($120-$90) = $150000
Net INCREASE = 180000 – 150000 = $30,000
