Need help, keep getting this wrong. Thanks in advance.

Suppose the market basket consists of 100X, 200Y, and 300Z. Current-year prices are $5 for each unit of X, $2 for each unit of Y

katrin [286]

The approximate CPI given the prices of the market basket of goods and services in the current year versus the base year is 150%.

<h3>What is Consumer Price Index (CPI)?</h3>

The CPI is a measurement of the overall cost of the goods and services bought by a typical consumer, using a market basket of goods and services.

The CPI gauges the inflation rate in a fiscal period.

<h3>Data and Calculations:</h3>

Market basket 100X 200Y 300Z

Current-year prices $5 $2 $3

Total current-year prices $500 $400 $900 = $1,800

(100 x $5) (200 x $2) (300 x $3)

Base-year prices $2 $2 $2

Total base-year prices $200 $400 $600 = $1,200

(100 x $2) (200 x $2) (300 x $2)

CPI for the current year = 1.5 or 150% ($1,800/$1,200)

Thus, the approximate CPI given the prices of the market basket of goods and services in the current year versus the base year is 150%.

Learn more about the Consumer Price Index (CPI) at brainly.com/question/8416975

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7 0

2 years ago

A firm will shut down in the short run if the total revenue that it would get from producing and selling its output is less than

maxonik [38]

Answer: A firm will shut down in the short run if the total revenue that it would get from producing and selling its output is less than its C. variable costs.

Explanation: A variable cost is a cost that will vary depending on the level of output that is needed. If more units of an item are needed, the variable costs will likely rise whereas if the product numbers go down, they will too. A variable cost changes and a fixed cost stays the same regardless of the production amount.

3 0

3 years ago

Which company sold for the highest cash equivalent value?

Anika [276]

Answer:

Company B (transaction d)

Explanation:

present value of transaction a (company D) = $1,100,000 / 1.08 = $1,018,519

present value of transaction b (company C) = $45,000 x 21.21211 (PV annuity factor, 2.4%, 30 periods) = $954,545

present value of transaction c (company A) = $1,000,000

present value of transaction d (company B) = $100,000 x 10.52141 (PV annuity factor, 4.8%, 150 periods) = $1,052,141

6 0

3 years ago

Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's ant

Leto [7]

Answer:

Total cost per unit is $77

Explanation:

Fixed manufacturing overhead per unit = Total fixed manufacturing overhead ÷ Number of units

= $478,800 ÷ 34,200 = $14 per unit

Fixed selling and administrative expenses per unit = Total Fixed selling and administrative expenses ÷ Number of units

= $171,000 ÷ 34,200 = $5 per unit.

Total cost per unit = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Variable selling expenses + Fixed selling expenses

Total cost per unit = $15 + $5 + $11 + $14 + $5 + $5 = $55 per unit.

Markup = 40% of total cost = $55 × 40% = $22

Therefore, total selling price per unit = Cost per unit + Markup

= $55 + $22 = $77 per unit.

7 0

4 years ago

Crane Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:

vovikov84 [41]

Answer:

Crane Company

If Crane Company uses LIFO, the value of the ending inventory is:

= $440.

Explanation:

a) Data and Calculations:

Units Unit Cost Total Cost

1/1/20 inventory 150 $4.00 $600

1/15/20 Purchase, 70 5.10 357

1/28/20 Purchase, 70 5.30 371

Total 240 $1,328

1/31/20 inventory 110 $4.00 $440 ($4.00 * 110)

b) The LIFO method assumes that goods that are sold first are the last that were purchased. Therefore, the cost of the ending inventory is usually based on the cost of the earlier inventory purchased. In our case, the cost per unit was based on the beginning inventory balance.

4 0

3 years ago