In a Recent Financial Journal, the Exchange Rate Between the Dollar

question 66

Multiple Choice

In a recent financial journal, the exchange rate between the dollar and the Japanese yen (¥) was quoted two ways:

$$\begin{array} { | l | l | } \hline \text {Exchange rate (in dollars) } &\$00764\\\hline \text {Exchange rate (in yen) } & ¥130.89\\\hline\end{array}$$
-Refer to the above data. The number of dollars equivalent to ¥5,250,000 on this date is:

• A) $40,110.00.
• B) $687,172.50
• C) Some other amount.
• D) Depends upon whether the item is a receivable or a payable.

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Definitions:

Machine-Hours

A measure of production time based on the number of hours a machine is operated.

Direct Labor-Hours

Summation of hours by employees directly contributing to manufacturing efforts.

Machining

A manufacturing process involving the cutting, shaping, or finishing of material, typically metal, using machine tools.

Customizing

The process of modifying or creating products or services according to the customer's or user's specific needs.