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NARA [144]
3 years ago
11

Nexus Industries uses a standard costing system to apply manufacturing costs to its production process. In​ May, Nexus anticipat

ed producing units with fixed manufacturing overhead costs allocated at per direct labor hour with a standard of direct labor hours per unit. In​ May, actual production was units and actual fixed manufacturing overhead costs were . What was​ Nexus' fixed manufacturing overhead volume variance in​ May?
Business
1 answer:
Mama L [17]3 years ago
8 0

Answer:

$33,700 (Favorable)

Explanation:

Note: Figures are not inputted. The missing figures have been figured out as below.

"<em>Nexus industries uses a standard costing system to apply manufacturing costs to its production process. In May nexus anticipated 2700 units with fixed manufacturing overhead costs allocated at $8.40 per direct labor hour with a standard of 2.5 direct labor hours per unit. In May, actual production was 3400 units and actual fixed manufacturing overhead cost were $23000.  What was nexus fixed manufacturing overhead volume variance in May</em>?"

Solution:

Budgeted fixed overhead costs = Units * Direct labor cost * Standard Direct Labor hours per unit

= 2,700 units * $8.40 * 2.5

= 2,700 units * 21

= $56,700

Fixed manufacturing overhead volume variance = Actual fixed overhead cost - Budgeted fixed manufacturing overhead costs

When Actual fixed overhead = $23,000 ,  Budgeted fixed overhead costs = $56,700

Fixed manufacturing overhead volume variance = $23,000 - $56,700

= $33,700 (Favorable) .

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Explanation:

The life-cycle theory proposes that the United States boosted worldwide economic trade exporting their products. At first, the products were delivered to other world developed countries. Over time, those developed countries started to study American products to become manufacturers. This implies competition so to spend fewer costs, the developed countries took their operations to developing nations.

After some time, it is believed that those developing countries are likely to become manufacturers as well at even cheaper costs provoking that the United States begin to import products from the developing nations.

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Suppose that the price of a bottle of soda is $1 each. Larry is willingto pay $2 for the first bottle, Alan is willing to pay $1
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Answer:

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Explanation:

Consumer surplus is the difference between the maximum price that a consumer is willing to pay for a good and the actual price paid for the good.

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Also that supply can be increased when the cost of production is lower. Economies of scale can be achieved by the company when they reduce cost of production they can increase their profit earning capacity.

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