Production costs for the 15,000 containers needed annually are as follow: Direct materials $35,000 Direct labor 15,000 Unit-related overhead 5,000 Product-sustaining overhead 6,000 Allocated facility-sustaining overhead 14,000 A supplier has offered to provide all 15,000 containers at a price of $4.50 per container. If Whitney, Inc. accepts the offer; it will rent the released space for an annual rental fee of $12,000. Should Whitney, Inc. make or buy the containers? (2 points) Question 6:In addition to selling custom-designed jewelry, Darrah’s Jewelry Store also offers repair and appraisal services. After reading the following profit report, decide whether Darrah’s should drop the appraisal service.
The electricity cost was charged on a quarterly basis and charged back to each department on a quarterly basis also. The quarterly costs were September 2013 $13000, December $11000, March $10000 and June $11000. Retail Banking make payment of 100% of the cost up front as they are the controlling department. Retail Banking then process an adjusting entry to Commercial Banking’s cost centre for 30% of the expense and an adjusting entry to Financial Planning’s cost centre for 10% of the expense which together with its 60% obligation brings the total to 100%
At the time of recording the information all clarifications can be made for accuracy.The records should be signed, dated and legible for other users to access easily. 2.2 Describe practices that ensure security when storing and accessing information. The practices that ensure security when storing and accessing
Below you will find detailed information that describes how we will manage each of these concerns. Project Schedule Accuracy Our project development structure depends on the details contained within the Project Schedule which is why we need to assure that the schedule is as accurate as possible at all times, that there are control measurements in place to monitor and manage changes to the schedule and that our project activities, processes, and phases are defined within the schedule and have an estimated time frame for completion as accurate as possible. As we all know projects are susceptible to confront changes which make it difficult sometime for Project Managers to estimate or predict an exact time frame for a particular activity or task. Also, we know how this can be of difficulty especially when we have activities that are dependent upon another in order to be executed. Each of them has their own dependencies and
TASK B GUIDELINES Bi: Explain how to maintain records so that they are up to date, complete, accurate and legible. To facilitate good record keeping it is essential that good daily notes are kept. This will include things such as; any achievements, any appointments, health changes, behavioural changes, requests from individuals, complaints and any other significant events. Any significant event should be written down immediately or at earliest opportunity. You should not end your shift before you have completed all necessary paperwork.
Documentation of Procedures - making sure that the expense reports are accurate and that original receipts are used for proof. 4. Physical Controls - in order to safeguard property against theft and vandalism. Based on those principles, I see several areas of potential improvement. Let's consider the scenarios you have provided: First, it is very important and absolutely crucial that you have faith in long term employees.
Following these guidelines, procedures and codes of practice allow everyone to be treated equally and help prevent or solve any issues that arise in the work place. Planning and priority of my work is fundamental as without a plan I would not have a clear idea of what needs to be done, affecting my time management and causing disturbance to others who are depending on my work. With a plan such as a ‘to do list’ I am able to work effectively and efficiently knowing approximately what I am doing to guarantee anything of high importance can be processed immediately. As a result, if I am asked to take on more work I can check my plan and give a realistic answer. Agreeing to realistic targets and being honest with the amount of work I am able to handle allows me to manage my work flow accordingly ensuring targets are realistic to achieve.
As a member there are certain criteria and professional standards that we must uphold. CPAs have auditing and assurance standards that must be followed to ensure valid and accurate information from company to company. Pronouncements are often issued to keep all CPAs informed on industry changes. Compilation and review standards provide the same value as auditing standards, to ensure services are provided in a similar fashion by all CPAs. Other attestation standards include specific guidance on other attestation services, again to ensure each CPA practices applicable accounting procedures.
Virtual Organization System Inventory Timothy L Welty BSA310 October 27, 2014 Peng Virtual Organization System Inventory Assignment: Select one of the following Virtual Organizations: * Huffman Trucking Complete the following chart, filling in information for each system used at the Virtual Organization. Add rows to the chart as necessary. Huffman Trucking “Huffman trucking is a national transportation company. The company's 1,400 employees work in its logistical hubs located in Los Angeles, California, St. Louis, Missouri, and Bayonne, New Jersey; its central maintenance facility is in Cleveland, Ohio; and as drivers of its 800 road tractors. The company expects to earn revenues during fiscal year 2004 in excess of $600,000,000 (Virtual Organization, 2014).” System Name | Brief Description | Department to Use the System | Purpose of the System | Connects With | Development Details | Finance & Accounting Systems | Application is licensed on an annual per user basis from a vendor specializing in F & A systems for the transportation industry | Finance and Accounting Systems | General ledgerAccounts PayableAccounts ReceivableCash ManagementBilling/InvoicingCredit/CollectionsCostingProperty ManagementAssetsTaxes | Integrated with the Fleet Maintenance System and the Enterprise Transportation Application | Maintenance costingFuel management and costingWarranty managementMaterials inventory managementFixed assets | System Name | Brief Description | Department to Use the System | Purpose of the System | Connects With | Development Details | HRIS system | Track employees from an operational and financial perspective | Human Resources | To generate employee files in database.
Each measure is taken to maintain accuracy and reliability in daily operations. Internal controls help to protect the company’s resources against theft, fraud, and errors. Internal control is like checks and balance systems to verify everything is in order. There are different levels or components of internal control. There are controls that prevent mistakes or errors from occurring.