Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
INTERNAL CONTROL FOR SALESYancy's Hardware has three stores. Each store manager is paid a salary plus a bonus on the sales made by his or her store. On January 5, 2010, Bill Slick, manager of one of the stores, resigned. Bill's store had doubled its expected December 2009 sales, producing a bonus for Bill of $8,000 in December alone. Charles Brook, an assistant manager at another store, was assigned as manager of Bill Slick's store. Upon examination of the store's accounting records, Charles reports to Yancy that the store's records indicated sales returns and allowances of $110,000 in the first four days of January 2010, an amount equal to about half of December 2009 sales.
Required:
1. Explain what the large amount of sales returns and allowances suggest that Bill Slick might have done.
2. Determine how Yancy could protect itself from a manager who behaved as Bill Slick did.
What steps should she consider?
Otingo Equipment Co. wants to prepare interim financial statements for the first quarter.
The following information provides the amount of cost incurred in May for the cost items indicated. During May 16,000 units of the firm's single product were manufactured.
Calculate the impact on profit of the proposed hiring decision. Should the company hire the two additional sales representatives?
Strauss Table Company manufactures tables for schools. The 20x4 operating budget is based upon sales of 20,000 units at $ 100 per table.
Daniele Corporation uses an activity-based costing system with the three activity cost pools - find the activity rate for the Fabrication activity cost pool
Prepare a schedule reflecting the cost of each of the four jobs - prepare journal entries to record the transactions and compute the ending balance in Work in Process.
Calculate the total compensation of each PCP at the end of the year and what primary care rate (PMPM) will Families First propose to ABC Company?
The following information comes from the accounting records for Santa Inez, Inc., for July:
During the period, actual sales totaled 58,000 units. Prepare a variance report to show the difference between the master budget and the flexible budget.
Speedy Dress Manufacturing has two workstations, cutting and finishing. The cutting station is limited by the speed of operating the cutting machine. Finishing is limited by the speed of the workers. Finishing normally waits for work from cutting.
The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,000 were in process at the beginning of the period.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd