Accounts are listed below for a foreign subsidiary that maintains its books in its local currency.The equity interest in the subsidiary was acquired in a purchase transaction.In the space provided,indicate the exchange rate that would be used to translate the accounts into dollars assuming the functional currency was identified (a)as the U.S.dollar and (b)as the foreign entity's local currency.Use the following letters to identify the exchange rate:
H - Historical exchange rate
C - Current exchange rate
A - Average exchange rate for the current period
Definitions:
Machine-Hours
An assessment of the level of productivity or operational activity, based on the time span machinery is active.
Sales Commissions
Payments made to sales employees as a percentage of the sales they generate.
Sales Volume
The total number of units of a product sold within a specific period.
Total Variable Cost
The entire expense that varies directly with changes in production volume, including materials, labor, and other costs that increase or decrease with output level.
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