Albanda is an agrarian economy located in south asia. shen chou and her friend wang tao are discussing the efficacy of the consumer price index. shen, who works with a nonprofit organization, says that the consumer price index does not reflect the realities of consumption patterns of the average consumer. wang, a policy planner, says that it must be accurate because it was updated only a year ago. which of the following, if true, would weaken wang's argument?
a) a major objective of the cpi revision in the previous year was to reduce the extent of the bias in the index.
b) the cpi in albanda is calculated based on consumption and spending patterns of urban consumers.
c) albanda is heavily dependent on imports of food grains because it has a low proportion of arable land.
d) even though comparable goods were less expensive in albanda than in a neighboring country, the cpi increased more in albanda during the period.
e) housing prices in the economy fell during the year because of a decline in speculative buying of long-term assets.

Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest. the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed. what control allowed the fraud to occur?

The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were:

Job 456 was recently completed. the following data have been recorded on its job cost sheet: direct materials $ 2,418 direct labor-hours 74 labor-hours direct labor wage rate $ 13 per labor-hour machine-hours 137 machine-hours the corporation applies manufacturing overhead on the basis of machine-hours. the predetermined overhead rate is $14 per machine-hour. the total cost that would be recorded on the job cost sheet for job 456 would be: multiple choice $3,380 $5,298 $6,138 $2,622