Firstly, you should calculate the prices of your market basket, which basically means multiply all the goods with their prices and then add them together in their respective years. This would give you $260, $440, $690 and $1200 in the years 2010 to 2013 respectively. (follow along by noting everything down)
We see that the base year is 2013, therefore if we want to calculate the inflation rate from 2010 to 2011, we have to calculate their price indices. We do this by dividing the maket basket of our chosen years by the market basket of the base year, therefore the price index of 2010 is $260/$1200, giving us 21.6. The price index of 2011 would be $440/$1200, giving us 36.6. To calculate the inflation rate, you find the difference between your two price indices and divide it by the former year, which would be 36.6 - 21.6 / 21.6 x 100, giving us the inflation rate of 69.2%.
Answer:
$52,285
Explanation:
The computation of the total manufacturing cost assigned to Job P is shown below:-
Total manufacturing cost = Direct material + Direct labor + Manufacturing overhead applied
= $13,000 + $21,000 + (2,300 × $7.95)
= $13,000 + $21,000 + $18,285
= $52,285
Therefore for computing the total manufacturing cost assigned to Job P we simply applied the above formula.
Answer:
$29,750
Explanation:
Given that
Borrowed amount = $350,000
Interest rate = 8.5%
The computation of interest expense is shown below:-
Interest expense in the first annual payment = Borrowed amount × Interest rate
= $350,000 × 8.5%
= $29,750
Therefore, for computing the interest expense in the first annual payment we simply multiply borrowed amount with interest rate.
Answer:
The correct answer is comparable worth.
Explanation:
Comparable worth is a legal concept that applies to workplaces. In essence, this concept argues that all jobs or positions that are considered by the employer of similar value must be compensated in the same way, regardless of the gender of the employee. In some places, this concept of equal pay for work of equal value is also about inequality in remuneration based on race or sexual orientation. At its heart, comparable value focuses on ensuring that people who are contributing to acceptable levels for a business or other organization are compensated equally and without any prejudice or discrimination.
