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Kazeer [188]
3 years ago
5

An indirect exchange rate quotation is one in which the exchange rate is quoted: for the immediate delivery of currencies exchan

ged. in terms of how many units of the foreign currency can be converted into one unit of domestic currency. for the future delivery of currencies exchanged. in terms of how many units of the domestic currency can be converted into one unit of foreign currency.
Business
1 answer:
vladimir2022 [97]3 years ago
6 0

Answer:

in terms of how many units of the foreign currency can be converted into one unit of domestic currency.

Explanation:

Direct quotation of currency exchange refers to quoting how many units of domestic currency are needed to purchase one unit of a foreign currency, e.g. you need $0.77 US to purchase 1 Canadian dollar.

Indirect quotation of currency exchange refers to quoting how many units of a foreign currency are needed to purchase one unit of your domestic currency, e.g. you need 1.30 Canadian dollars to purchase $1 US.

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Volume variance    $1,320  Favorable

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The fixed overhead volume variance is the difference between the actual and budgeted production unit multiplied by the standard fixed production overhead cost per unit.

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                                                                                             Units

Budgeted     units                                                               375

Actual            units                                                              <u>395</u>

Volume variance                                                                  20

Standard fixed overhead cost                                        <u>× $66 </u>

Volume variance                                                              <u>  $1,320   Favorable</u>

                       

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49.9%

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Please see attachment .

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