Bramble corp. produces a product that requires 2.6 pounds of materials per unit. the allowance for waste and spoilage per unit is 0.3 pounds and 0.1 pounds, respectively. the purchase price is $2 per pound, but a 2% discount is usually taken. freight costs are $0.1 per pound, and receiving and handling costs are $0.07 per pound. the hourly wage rate is $14 per hour, but a raise which will average $0.10 will go into effect soon. payroll taxes are $1.00 per hour, and fringe benefits average $2.20 per hour. standard production time is 1 hour per unit, and the allowance for rest periods and setup is 0.2 hours and 0.1 hours, respectively.

Yang corporation starts a foreign subsidiary on january 1 by investing 20,000 rand. yang owns all of the shares of the subsidiary’s common stock. the foreign subsidiary generates 40,000 rand of net income throughout the year and pays no dividends. the rand is the foreign subsidiary’s functional currency. currency exchange rates for 1 rand are as follows: lo 10-3 january $0.25 = 1 rand average for the 0.28 = 1 december 0.31 = 1 in preparing consolidated financial statements, what translation adjustment will yang report at the end of the current year? a. $400 positive (credit). b. $1,000 positive (credit). c. $1,400 positive (credit). d. $2,400 positive (credit). hoyle, joe ben; hoyle, joe ben. advanced accounting (page 513). mcgraw-hill higher education. kindle edition.