Reference no: EM131146729
CASE 8-1 Assessing Change Control and Change Management
Read the article "Security Controls that Work" by Dwayne Melancon in the 2007 Issue, Volume 4 of the Information Systems Control Journa. Write a report that answers the following questions:
1. What are the differences between high-performing organizations and medium- and low-performing organizations in terms of normal operating performance? Detection of security breaches? Percentage of budget devoted to IT?
2. Which controls were used by almost all high-performing organizations, but were not used by any low- or medium-performers?
3. What three things do high-performing organizations never do?
4. What metrics can an IT auditor use to assess how an organization is performing in terms of change controls and change management? Why are those metrics particularly useful?
Assignment
Please complete the below problems and submit your answers in the Week 3 Dropbox. See "Syllabus/Due Dates for Assignments & Exams" for due date information.
Resty Company manufactures a product that goes through two departments prior to completion: the Mixing Department and the Packaging Department. Direct materials are added at the beginning of the process. Conversion costs are added evenly during the process. When the Mixing Department finishes work on each product, it is immediately transferred to Packaging.
The following data are available for the Mixing Department for December 2014:
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Percext Caorieted
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Unts
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Materials
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Conversion
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Beginning, Work in Process
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50,000
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65%
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30%
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Start into production
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380,000
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Completed and transferred out
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405,000
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Ending Work in Process
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42,000
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55%
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20%
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Materials
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Conversion
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Beginning, Work in Process
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$49,540.00
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$19,400.00
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Casts added during December
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$472,300.00
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$301,200.00
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Required:
Assume that the Resty Company uses the weighted-average method of process costing.
a. Compute the equivalent units for December for the Mixing Department.
b. Determine the costs per equivalent unit for December for the Mixing Department.
c. Determine the total cost of ending work-in-process inventory and the total cost of units transferred to the Packaging Department.
d. Prepare a cost reconciliation report for the Mixing Department for December.
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