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Nutka1998 [239]
3 years ago
6

The Bureau of Labor Statistics reported the CPI stood at 215.9 in December 2009, while one year earlier it was 210.2. Suppose Ja

nice's nominal income rose by 4% from December 2008 to December 2009 while Jeff's increased by only 2%. By what percentage did each of their real incomes change?
Business
1 answer:
makvit [3.9K]3 years ago
7 0

Answer:

Annual rate of inflation = [(215.9 - 210.2) / 210.2] * 100

Annual rate of inflation = 2.7%

Real income change = Nominal income change - inflation rate

Janice Real income change = 4% – 2.7%

Janice Real income change = 1.3%

This means Janice's real income did increase by 1.3%.

Jeff Real income change = 2% – 2.7%

Jeff Real income change = -0.7%

This means Jeff's real income did decrease by 0.7%.

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Flapjack Corporation had 7,680 actual direct labor hours at an actual rate of $12.45 per hour. Original production had been budg
Mashutka [201]

Answer:

Labour time (efficiency) variance =   $9,984 unfavorable

Explanation:

<em>The labour time variance is the dollar value of the difference between the standard time allowed for the actual output produced and the actual time used.</em>

                                                                            Hours

Standard hours ( 960 units × 7.2 hours )   =   6,912

Actual hours                                                     <u>7,680</u>

Time variance                                                     768 Unfavorable

×  standard labour rate                                     <u>×  $13</u>

 Variance                                                         <u> $9,984 </u>Unfavorable

3 0
3 years ago
Income statement data for Whirlpool Industries from the company’s 2016 financial statements follow. Use these data to reformulat
Blababa [14]

1. The computation of the adjustments to warranty expense, income tax expense, and net income and the reformulation of the income statement for 2014, 2015, and 2016 for Whirlpool Industries are as follows:

12 Months Ended ($ millions)   Dec. 31, 2016    Dec. 31, 2015    Dec. 31, 2014

Net sales                                        $23,928              $24,101            $23,082

Warranty expense                               366                     610                    372

Taxable income                            $23,562             $23,491             $22,710

Tax expenses (30%)                      $7,069               $7,047               $6,813

Net income                                  $16,493             $16,444            $15,897

2. The computation of the average warranty expense to net sales rate over the past three years is as follows:

12 Months Ended ($ millions)   Dec. 31, 2016    Dec. 31, 2015    Dec. 31, 2014

Net sales                                        $23,928              $24,101            $23,082

Warranty expense                                366                     610                    372

Warranty expenses to

 net sales rate                              1.5296%             2.5310%              1.6116%

Average warranty expenses to net sales rate = 1.89% (5.6722/3)

<h3>Data and Calculations:</h3>

12 Months Ended ($ millions)   Dec. 31, 2016    Dec. 31, 2015    Dec. 31, 2014

Net sales                                        $23,928              $24,101            $23,082

Warranty expense                                366                     610                    372

Warranty expenses to

 net sales rate                              1.5296%             2.5310%              1.6116%

Average warranty expenses to net sales rate = 1.89% (5.6722/3)

Thus, the average warranty expense to net sales rate over the past three years is <u>1.89%</u>.

Learn more about preparing income statements at brainly.com/question/24498019

3 0
2 years ago
A client of yours has heard about private equity investing from some wealthy friends and asks you, the registered representative
11Alexandr11 [23.1K]

Answer:

The answer is: Business Development Company (BDC)

Explanation:

Clients have two options for participating in the private equity market:

  • BDC
  • Venture Capital (VC)

The problem with a VC, is that its aimed at very wealthy customers (usually millionaires) and this specific client is not one of those.

So the only possible choice is to invest in a BDC, which are listed investment companies and trade like any other stock.

4 0
3 years ago
A person who does not lock the doors or does not repair leaks shows an indifferent attitude. This person presents what type of h
Natalija [7]

Answer:

<em><u>Morale.</u></em><em><u> </u></em><em> </em><em>Defined </em><em>as </em><em><u>the </u></em><em><u>attitude</u></em><em><u> </u></em><em><u>of </u></em><em><u>individual </u></em><em><u>groups </u></em><em><u>toward </u></em><em><u>their </u></em><em><u>work </u></em><em><u>environment</u></em><em><u> </u></em><em><u>toward </u></em><em><u>voluntary</u></em><em><u> </u></em><em><u>cooperation</u></em><em><u> </u></em><em><u>to </u></em><em><u>the </u></em><em><u>full </u></em><em><u>extent </u></em><em>of their ability in the best interest of the organization. </em>

4 0
3 years ago
If the government removes a $4 tax on buyers of restaurant meals and imposes the same 4 tax on sellers of restaurant meals, then
Tanya [424]

Answer:

C. not change, and the price received by sellers will not change.

Explanation:

Because previously there was a tax of the same ammoutn nothing will change. The sellers will will transfer the tax into the price therefore, the after-tax proceeds will not change netiher the selling price. The same effect of the consumer tax will occur again, some or the entire tax will be pay for the seller or the consumer based on the elasticity of the supply and demand curve.

The effect of chaging the law will not alter the economic reality of translate taxes into consumers

4 0
3 years ago
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