If the CPI Was 68 in 1965 and Is 285

question 94

Multiple Choice

If the CPI was 68 in 1965 and is 285 today,then $100 today purchases the same amount of goods and services as

• A)$23.86 purchased in 1965.
• B)$32.47 purchased in 1965.
• C)$68.00 purchased in 1965.
• D)$419.12 purchased in 1965.

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Definitions:

Students

Individuals engaged in learning at educational institutions, ranging from schools to universities, but not a key term related to accounting or finance directly.

Cost Drivers

Factors that cause a change in the cost of an activity, such as machine-hours, labor-hours, or quantity of materials.

Activity Variances

Differences between planned and actual costs arising from changes in activity levels in various cost centers within a business.

Cost Drivers

Factors that cause a change in the cost of an activity, used to assign overhead costs in activity-based costing systems.