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Evaluate how to organize the business for managerial control based on accounting information. Wilmont Electronics' profit has been less than expected for the past several quarters. After an internal audit, it was determined that inventory losses have been rising over the past year, which has accounted for the majority of the profit loss. The audit uncovered the following problems:
inaccuracy in reporting receipted materials
production reporting problems
errors in physical inventory counts
shipping errors
lack of security in the storage of materials
high turnover of personnel
Write a memo to the general manager describing what preventive, detective, and corrective management controls (procedures and policies) should be addressed and possibly changed to correct the issues found in the audit. Write a paragraph addressing the major areas each procedure or policy should emphasize and identify each as preventive, detective, or corrective.
Beginning work in process inventory $ 90,000 Direct materials used 70,000 Actual overhead 110,000 Overhead applied 80,000 Cost of goods manufactured 160,000 Ending work in process 200,000 Reich Manufacturing Company's total CURRENT manufacturing c..
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2010 , Pervival Company using the INDIRECT METHOD
MBA 640 Exam 1, Spring 1, 2014 Suppose that Smith follows a strategy of one of its competitors which is to spend $200,000 on advertising so that there is more brand awareness.
Cheap Toys sells merchandise to the general public for cash or credit. It accepts several major credit cards. The company pays an average fee of 4% of sales to the credit card companies and 6% to the State of Florida in sales taxes.
ABC Corp. owns a piece of land and building a few miles from its headquarters. The land originally cost ABC $500,000 to purchase.
The budgeted unit sales of Haerve Company for the upcoming fiscal year are provided below: Prepare the company's selling and administrative expense budget for the upcoming fiscal year.
At what price, if at all, should Tom and Lynda offer valet parking as an optional feature of the membership? Justify with supporting calculations.
The Central Valley Company is a merchandising firm that sells a single product. The company's revenues and expenses for the last three months are given below:
Russell (age50) and Linda (age45) Long have brought you the following information regarding their income and expenses for the current year. Russell owns and operates a landscaping business called Lawns and Landscapes Unlimited. The business is operat..
The manager of an operating department just received a cost report and he has made the following comment respect to the cost allocated from one of the service departments:
You are asked to make a depreciation schedule for a business asset. A depreciation schedule shows the remaining value of the asset at the end of each time period. Create a depreciation schedule for each of the following
If he were to receive an equal salary at the end of each of the 5 years from 2009 to 2014, what would his equivalent annual salary be?
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