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3 years ago

Calculate how much each of the following items is worth in terms of today's dollars using 180 as the price index for today.

Business

1 answer:

Yuri [45]3 years ago

7 0

Answer:

A. $3

B. $257.142

C. $2.25

Explanation:

A. In 1925, the CPI was 18 and the price of a movie ticket was $0.30.

The current CPI is 180.

The price today will be

= $\frac{Price}{CPI}\ \times\ Current\ CPI$

= $\frac{0.3}{18}\ \times\ 180$

= $3

B. In 1930, the CPI was 14 and a cook earned $20 a week.

The current CPI is 180.

The price today will be

= $\frac{Price}{CPI}\ \times\ Current\ CPI$

= $\frac{20}{14}\ \times\ 180$

= $257.142

C. In 1940, the CPI was 16 and a gallon of gas cost $0.20.

The current CPI is 180.

The price today will be

= $\frac{Price}{CPI}\ \times\ Current\ CPI$

= $\frac{0.2}{16}\ \times\ 180$

= $2.25

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The functional distribution of income shows the distribution of income among ______ and the personal distribution of income sho

lutik1710 [3]

<span>The functional distribution of income shows the distribution of income among factors of production and the personal distribution of income shows the distribution of income amonghouseholds. The function distribution is attributed to the company performance, so it does look in to resources and the all levels of staff where as the personal distribution is associated with a single individual who is concerning towards his household.</span>

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3 years ago

Martinez Manufacturing applies overhead based on direct labor hours. The company estimates that their overhead for the year will

aev [14]

Answer:

The correct answer is C: underapplied by $2,500

Explanation:

Giving the following information:

Martinez Manufacturing applies overhead based on direct labor hours.

The company estimates that their overhead for the year will be $180,000 and that they will use 72,000 direct labor hours.

During the year, Martinez Manufacturing used 75,000 direct labor hours and actual overhead costs were $190,000

We need to calculate if the overhead was under or over applied and in what amount.

Predetermined overhead rate= total estimated manufacturing overhead for the period/ total amount of allocation base

Predetermined overhead rate= 180000/72000= $2.5 an hour

Now, we can calculate the amount of overhead allocated:

Overhead allocated= 75000 hours*2.5= $187,500

Over/under applied= actual overhead - allocated overhead= 190,000 - 185,500= $2,500 underapplied

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3 years ago

Many companies state their brand promise directly in words, using a short phrase called what

denpristay [2]

Answer:Many companies state their brand promise directly in words, using a short phrase called what? A. A warranty B. A customer mindset C. A corporate image D. A tagline

✓ D.

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3 years ago

During the year,Liptom Company made an entry to write off a $4,000 uncollectible account. Before this entry was made, the balanc

Andru [333]

Answer:

$55,500

Explanation:

The computation of the net realizable value after the write off entry is show below:

The credit balance in allowance with terms to bad debts is

= $4,500 - $4,000

= $500

Now the net realizable value is

= ($60,000 - $4,000) - ($4,500 - $4,000)

= $56,000 - $500

= $55,500

Hence, the same is to be considered

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3 years ago

Joe's Jalopies sold one of its warehouses for $300,000 cash plus a tractor with a fair market value of $25,000. The building had

spayn [35]

Answer:

$355,000

Explanation:

Joe's jalopies sold one of its warehouse for $300,000 and a tractor that has a fair market value of $25,000

The warehouse had a mortgage of $50,000 against it.

The adjusted basis was $130,000

Joe had to make a payment of $20,000 in sales commission to the realtor

Therefore, the amount realized by Joe's jalopies can be calculated as follows

=$300,000+$25,000+$50,000-$20,000

= $375,000-$20,000

= $355,000

Hence the amount that was realized by Joe's jalopies is $355,000

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3 years ago