Let’s consider the effects of inflation in an economy composed of onlytwo people: bob, a bean farmer, and rita, a rice farmer. bob and ritaboth always consume equal amounts of rice and beans. in 2010, theprice of beans was $1, and the price of rice was $3.a. suppose that in 2011 the price of beans was $2 and the price ofrice was $6. what was inflation? was bob better off, worse off, orunaffected by the changes in prices? what about rita? b. now suppose that in 2011 the price of beans was $2 and the priceof rice was $4. what was inflation? was bob better of , worse off, or unaffected by the changes in prices? what about rita?
c. what matters more to bob and rita-the overall inflation rate orthe relative price of rice and beans?

Yard tools manufactures lawnmowers, weed-trimmers, and chainsaws. its sales mix and unit contribution margin are as follows. sales mix unit contribution margin lawnmowers 20 % $30 weed-trimmers 50 % $20 chainsaws 30 % $40 yard tools has fixed costs of $4,200,000. compute the number of units of each product that yard tools must sell in order to break even under this product mix.

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

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