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Goryan [66]
3 years ago
7

What measures the change in prices of a basket of goods and services in a given year?

Business
2 answers:
Bogdan [553]3 years ago
8 0

Its D or inflation.

Ive took the test and tried all the answers

Strike441 [17]3 years ago
3 0
<span>The average change over time in the prices paid by urban consumers for a market basket goods and services of consumer is measured by the consumer price index. A general increase in the cost of goods and services which also measures the change in prices of a basket of goods and services in a given year is inflation.</span>
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Trio Company reports the following information for the current year, which is its first year of operations.
Contact [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Direct materials $15 per unit

Direct labor $15 per unit

Overhead costs for the year

Variable overhead $3 per unit

Fixed overhead $120,000 per year

Units produced this year 20,000 units

Units sold this year 14,000 units

Ending finished goods inventory in

units 6,000 units

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

1<u>) Absorption costing method:</u>

Unitary fixed overhead= 120,000/20,000= 6

Unit product cost= direct material + direct labor + total unitary overhead

Unit product cost= 15 + 15 + 3 + 6= 39

<u>Variable costing:</u>

Unit product cost= direct material + direct labor + variable overhead

Unit product cost= 33

2) Ending inventory:

Absorption costing= 6,000*39= $234,000

Variable costing= 6,000*33= $198,000

3) Cost of goods sold:

Absorption costing= 14,000*39= 546,000

Variable costing= 14,000*33= 462,000

7 0
3 years ago
The City of Oxbow General Fund has the following net resources at year-end:
Delvig [45]

Answer:

$1,622,000

Explanation:

Preparation of the fund balance section of the balance sheet.

Partial Balance Sheet-General Fund

As of December 31

FUND BALANCES SECTION OF THE BALANCE SHEET

Nonspendable:

Prepaid Insurance $10,000

Restricted:

Intergovernmental Grants $250,000

Emergency services $26,000

Committed:

Rainy Day Fund $600,000

Capital Projects $275,000

Assigned:

Unassigned $461,000

TOTAL fund balance $1,622,000

Therefore the fund balance section of the balance sheet will be $1,622,000

7 0
3 years ago
The FASB issued six types of pronouncements prior to the Codification: Statements of Financial Accounting Standards. These prono
Natalka [10]

<u>Solution and Explanation:</u>

The following guidelines as per the previously issued FASB statements of the Financial Accounting Standards, and APB Opinions, or the accounting research bulletins and the staff positions.

<u>The appropriate match for the each of the pronouncement is as follows: </u>

1. E (Interpretations)

2. C (Technical Bulletins)

3. B (Opinions)

4. D (Statements of Financial Accounting Concepts)

5. G (Accounting Research Bulletins)

6. A (The statements of the Financial Accounting Standards)

7. F (The Staff Positions)

4 0
3 years ago
If you were in charge of developing a tax system for a country, how would you structure taxes? For example, who should pay the g
Yuri [45]
<span>If you were in charge of developing a tax system for a country, how would you structure taxes? For example, who should pay the greater percentage of</span>
6 0
3 years ago
Is dispute a letter?<br><br>​
Snezhnost [94]
Nope, dispute is a word
4 0
2 years ago
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