Table 24-6 The Table Below Pertains to Napandsnack, an Economy in Which

question 424

Multiple Choice

Table 24-6
The table below pertains to Napandsnack, an economy in which the typical consumer's basket consists of 2 pillows and 15 hotdogs.
-Refer to Table 24-6. If the base year is 2010, then the consumer price index was

• A)83.33 in 2009, 100.00 in 2010, and 96.67 in 2011.
• B)85.56 in 2009, 100.00 in 2010, and 102.22 in 2011.
• C)85.56 in 2009, 100.00 in 2010, and 96.67 in 2011.
• D)92.22 in 2009, 99.00 in 2010, and 95.22 in 2011.

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Definitions:

Job-Order Costing

A cost accounting system used to accumulate costs of individual jobs, typically used in manufacturing firms that produce unique products or jobs.

Direct Labor Costs

The total cost of wages, benefits, and taxes for employees who are directly involved in the production of goods or services.

Cost Of Goods Manufactured

The manufacturing costs associated with units of product that were finished during the period.

Job-Order Costing

An accounting method used to track costs and revenues by specific jobs or orders, commonly used in industries with customized products.