A microbrewery was built in 2012 at a total cost of $650,000. Additional information is given in the accompanying table (all 2000 indices = 100).
|
Average
|
|
|
|
Percentage of
|
Index
|
Index
|
|
Cost Element
|
Total Brewery Cost
|
(2012)
|
(2016)
|
|
Labor
|
30
|
160
|
200
|
|
Materials
|
20
|
145
|
175
|
|
Equipment
|
50
|
135
|
162
|
Calculate a weighted index for microbrewery construction in 2016.
Prepare a budget estimate for a microbrewery in 2016.