On January 30, 2003, a company paid a salary of 3 million euros to its 88...
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On January 30, 2003, a company paid a salary of 3 million euros to its 88 employees. On January 30 of the following year, said Company increased its employees by 10 and paid a payroll of 4.3 million euros more than in January 2003. Find: (a) The index number of the number of employees for January 2001. (b) The payroll expense index number for January 2004. (c) The index number of the average cost per employee for January 2004. On January 30, 2003, a company paid a salary of 3 million euros to its 88 employees. On January 30 of the following year, said Company increased its employees by 10 and paid a payroll of 4.3 million euros more than in January 2003. Find: (a) The index number of the number of employees for January 2001. (b) The payroll expense index number for January 2004. (c) The index number of the average cost per employee for January 2004.
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Answer rating: 100% (QA)
To calculate the index numbers we need to compare the values of different periods to a base period In this case well consider January 2003 as the base ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1118300855
10th Canadian Edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
Posted Date:
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