If the Consumer Price Index Was 100 in 1984 and 244

question 99

Multiple Choice

If the consumer price index was 100 in 1984 and 244 in 2015,how much did prices increase during this period?

• A)36 percent
• B)72 percent
• C)144 percent
• D)244 percent

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Definitions:

Overhead

All ongoing business expenses not directly attributable to creating a product or service.

Incremental Cost

The additional cost associated with manufacturing one more unit of production.

Direct Materials

Raw materials directly traced and assigned to the cost of producing goods or services.

Direct Labor

The wages paid to employees who are directly involved in producing goods or providing services.