(b)?

Cost per Pound ($) Ingredient Beginning Ending Quantity (pounds) per 100 Pounds of Product A 1.50 3.45 25 B 8.75 9.90 10 0.99 0.95 50 (a) Compute the price relatives for the three ingredients. Item Price Relative A 230 B 113.14 95.95 (b) Compute a weighted average of the price relatives to develop a one-year cost index for raw materials used in the product, I = 134 x What is your interpretation of this index value? Cost of raw materials is up 34 X % for the chemical