Canel Incorporated makes a single product--an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below:
Required:
a. Determine the fixed overhead budget variance for the year.
b. Determine the fixed overhead volume variance for the year.
Definitions:
J1939 Data Bus
A communications network used in heavy-duty vehicles and buses for the exchange of electronic information between control units.
MY 2014
Refers to the model year 2014, a designation used by automobile manufacturers to identify the annual version of a vehicle.
Smart Switch
Usually refers to a ladder switch but also may refer to either a PLC or switch with independent processing capability.
LED
Light Emitting Diode, a semiconductor device that emits light when current flows through it, known for efficiency and long life.
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