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Wages Department
It is accountable for the preparation of the payroll and the payment of wages. The routine will need:
a) Analysis of clock cards and verify of overtime authorization
b) Computation of bonus
c) Compilation of gross earning
d) Computation of deductions
e) Preparation of pay details for all employee showing total wages
f) Arranging for payment of wages to employees
ANGLE OF INCIDENCE: It is an angle that is created when the entire sales line intercepts the entire cost line from below in the breakeven chart. It is inferred that higher the an
Kenner company produces two products: SR200 and TX500. Budged sales for four months are as follows; SR200 TX500 May 8,000 20,000 June 13,000 32,000 July 11,000 39,000 August 18,000
Bubble Corporation manufactures two products, I and II, from a joint process. A single production costs $4,000 and results in 100 units of I and 400 units of II. To be ready for sa
Flexible budgeting is a reporting system wherin the
Explanations on the correct fixation of selling price
An industrial drill costs $60.000 to purchase and $10,000 to install seven years ago. The market value now is $33.000 and this will decline by 12% of current value each year for th
Describe briefly the possible causes of: (i) the material usage variance, (ii) the labour rate variance, (iii) the sales volume profit variance.
The following information is available for the automotive division of Ford Motor Company for 2009. The company uses the LIFO inventory method.
A Government issued a number of index-linked bonds on 1 June 2000 which were redeemed on 1 June 2002. Each bond had a nominal coupon rate of 3% per annum, payable half yearly in a
Assume that Banc One receives a primary deposit of $1 million. The bank must keep reserves of 20 percent against its deposits. Prepare a simple balance sheet of assets and liabilit
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