Opportunity cost refers to:_______

A consumer expenditure survey reports the following information on consumer protein spending:201820192020PQPQPQFish$2.001000$2.5

ivann1987 [24]

Answer:

(a) "Cost of living" index decrease by 14.42% between 2018 and 2019.

(b) "Cost of living" index increase by 30.73% between 2018 and 2020.

(c) "cost of living" index increase by 45.05% between 2018 and 2020.

Explanation:

Note: See the attached excel file for the calculations of the "cost of living" index for eash of 2018, 2019, and 2020 using 2018 as the base year.

(a) by how much does a "cost of living" index increase between 2018 and 2019.

Cost of living index in 2018 = 100%

Cost of living index in 2019 = 85.68%

Increase (decrease) in cost of living index = Cost of living index in 2019 - Cost of living index in 2018 = 85.68% - 100% = (14.42%)

Therefore, "cost of living" index decrease by 14.42% between 2018 and 2019.

(b) by how much does a "cost of living" index increase between 2018 and 2020.

Cost of living index in 2018 = 100%

Cost of living index in 2020 = 130.73%

Increase (decrease) in cost of living index = Cost of living index in 2020 - Cost of living index in 2018 = 130.73% - 100% = 30.73%

Therefore, "cost of living" index increase by 30.73% between 2018 and 2020.

(c) by how much does a "cost of living" index increase between 2019 and 2020

Cost of living index in 2019 = 85.68%

Cost of living index in 2020 = 130.73%

Increase (decrease) in cost of living index = Cost of living index in 2020 - Cost of living index in 2018 = 130.73% - 85.68% = 45.05%

Therefore, "cost of living" index increase by 45.05% between 2018 and 2020.

Download xlsx

8 0

3 years ago

Dieter is a debtor to Maxwell, the secured party. Dieter lives in Ohio and works in Kentucky. Maxwell lives in Indiana and works

Svetllana [295]

Answer:

The correct answer is C) Indiana

Explanation:

To completely secure a secured transaction, or perfect the security, the secured party (in this case Maxwell) should file a financing statement with the <em>local public records office</em>, Secretary of State, or other appropriate government body.

The area that is local to Maxwell is where he lives which is Indiana.

Cheers!

7 0

3 years ago

Read 2 more answers

Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginni

Illusion [34]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

The estimated machine-hours for the upcoming year at 79,000 machine-hours.

The estimated variable manufacturing overhead was $7.38 per machine-hour

The estimated total fixed manufacturing overhead was $2,347,090.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

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

Estimated manufacturing overhead rate= 2,347,090/79,000 + 7.38= $37.09 per machine-hour

3 0

3 years ago

What arethe involvement factors likely to be associated with buying a new computer?

Studentka2010 [4]

The involvement factors would be the price of the computer, the style, the model, and the things you could do with the computer.

8 0

3 years ago

The following data have been provided by Letze Corporation from its activity-based costing accounting system: Factory supervisio

Alex Ar [27]

Answer:

Letze Corporation

Overhead allocation to Batch Set-Up:

Factory supervision = 55% of $460,000 = $253,000

Indirect factory labor = 60% of $220,000 132,000

Total overhead assigned $385,000

Explanation:

a) Data and Calculations:

Factory supervision $ 460,000

Indirect factory labor $ 220,000

Distribution of Resource Consumption across Activity Cost Pools:

Activity Cost Pools

Batch Set-Up Expediting Other Total

Factory supervision 55% 35% 10% 100%

Indirect factory labor 60% 20% 20% 100%

b) Letze Corporation can use Activity-Based Costing as a system of cost accumulation and allocation based on activity cost pools so that overhead costs are assigned based on the level of activity which each cost pool generates. It tries to tie costs to the activities that generate them.

3 0

3 years ago

Opportunity cost refers to:________