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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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True

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Assume that Jack, Hal, and Sophia enter into a written contract for the sale of the restaurant, including the building and all o
Fynjy0 [20]

Answer:

A. Jack cannot bring in the evidence of the oral agreement because of the Parol Evidence Rule.

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The rule also prevents introduction of further evidences by a party after a final written document or agreement has been reached. Things such as the content of oral discussions from earlier in the negotiation process, as evidence of a different intent as to the terms of the contract. The rule states that "extrinsic evidence is inadmissible to vary a written contract". The term " patrol" refers to "word of mouth" hence it is referred to oral pleadings in a court case.

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The impact of the vendor with the zero opening balance is to show that the account has been correctly set up.

<h3>What is the vendor opening balance?</h3>

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The opening balance is what would have to be brought forward at the end of an accounting period and it is usually what the vendor would have to use as they try to keep a track of the cash flow that is in their account.

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Read more on opening balance here: brainly.com/question/26235574

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Answer:

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