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)
.
compound interest
after getting the simple interest of all the years we subracts the main amount with the simple interest which we got till now .it's called as compound interest
Answer:
B. In JIT purchasing, raw materials (or goods) are purchased so that products are delivered just as needed for production or sales.
Explanation:
JIT stands for Just in time management. It is an inventory management approach that advocates for the purchase of materials just when they are needed for production. In JIT, there is no storing of materials for use for future production. The purchase of materials is aligned with the production process.
The success of JIT is dependent on management ability to forecast sales volumes accurately. Management must work with reliable suppliers to ensure that materials are available when required. JIT lower's the cost of inventory management by eliminating the need to store huge quantities of materials. It reduces wastage by doing away with losses that arise due to the storage of bulk materials.
Answer:
option (C) $5 in the U.S. and 3 euros in Italy
Explanation:
Data provided in the question:
Nominal exchange rate, E = 0.80 euros per dollar
Real exchange rate = 
Now,
Real exchange rate = [ Price of good in US ] ÷ [ Price of Good in Italy ]
= 
Here,
PU = Price of US in dollars
PI = Price of Italy in Euros
Thus,
Real exchange in rate
= 
or
= 
hence,
we get
Ratio of Price of a good in US to Price of a Good in Italy =
or
we can say $5 in the U.S. and 3 euros in Italy
option (C) $5 in the U.S. and 3 euros in Italy
