1. Identify the key audit objectives for a client’s payroll function. Comment on both objectives related to tests of control and those related to tests of control s and those related to substantive audit procedure. The key audit objectives for client’s payroll function in this Trolley Dodgers Case are: * Occurrence-establish whether employees worked * Completeness-make sure hours are recorded * Accuracy-make sure hours work and salary paid are correct * Posting & Summarization-compare
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QUESTIONS APPLE VALLEY FAMILY PRACTICE Cost Allocation Methods 1. Briefly describe the differences in the four allocation methods discussed in the case. (Hint: Don’t discuss the mathematics of the schemes, but rather how they differ conceptually.) Which of the four methods is conceptually the most reasonable? 2. What are the allocations to each patient services department, and resulting profitability, under the four allocation methods using the base case cost amounts (Exhibit 4.1) and allocation
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identified, and corrective action is taken on a timely basis. If the variance is favorable, the reasons therefore are also searched out, so further advantage can be taken of the situation. An example is a variance between actual cost and standard cost for labor in a standard cost accounting system. In the area of data processing, an exception report may reflect those transactions not meeting the standards or requirements for the program being run. I Pad Hardware Quantity
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DBA 8552 - Unit I: Management Accounting and Control Systems Old Turkey Mash Wiskey Case Study Original Income Statement: Base Year Year 1 Year 2 Year 3 Production (distilled gallons) $500,000.00 $600,000.00 $700,000.00 $800,000.00 Aged gallons sold $400,000.00 $400,000.00 $400,000.00 $400,000.00 Warehouse Inventory at the Beginning of Year 4-year-old bbls $10,000.00 $10,000.00 $10,000.00 $10,000.00 3-year-old
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Selex Galileo: A Leader in Defense Systems Amber Tucker Embry Riddle Aeronautical University Managerial Accounting-MGMT 517 Abstract A look inside an Italian-based, leading global defense company reveals roots dating back to discoveries made by the famous, Galileo Galilei in the 1500s. The introduction of the telescope along with the realization of Jupiter’s satellites, and speed of falling objects have been the backbone of Selex Galileo. The company exhibits a strong willingness to work
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I. STATEMENT OF THE PROBLEM Beta Company produces two products, A and B, Each of which uses materials X and Y. The Following unit Standard cost apply: Material X Material Y Direct Labor Product A 4 lbs @ $15 1 lb @ $9.50 1/5 hr @ $18 Product B 6 lbs @ $15 2 lbs @ $9.50 1/3 hr @ $18 During November 4,200 units of A and 3,600 units of B were produced. Also, 39,000 pounds of X were purchased at $14.40, and 11,000 pounds of Y were purchased at $9.70; all of these materials (but no other
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610 Calculations for Setup cost (S): 1 Size changeover cost = (cost of resetting all machinery for change in bottle size/ avg. no. of different items of given size processed between size changeover) = 23000 / (52X7X10) = $6.3186 per changeover Label changeover cost = Labour cost incurred while label changeover process = (23000X0.5X8*)/(52X7) + 5X2.5X0.5 = $10.2 per labour changeover *Assumption each working day is of 8 hrs. Order Processing cost = 18000/ 350 = $51.43 per order
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The Goal Chapters 31 – 45 1. Give two examples from Alex’s company to illustrate the notion of “common sense is not common at all.” First, according to the cost-accounting rules that everybody has used in the past, Alex’s company is supposed to balance capacity with demand first, and then try to maintain the flow. However, instead they shouldn’t be trying to balance capacity at all; they need excess capacity. The rule they should be following is to balance the flow with demand, not the capacity
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Included in this report is the brief overview of three separate companies who may utilize job-order costing systems. The three companies looked at are Nortech Systems, Dynamic Material Corporation and Globecomm. You will see that each of these companies has unique offerings and provides multiple products to multiple industries. The first company that apparently uses job-order costing systems is Nortech Systems, Inc. Their website is http://www.nortechsys.com and a brief summary of their services
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Purchasing and Supply Chain Management 2th Exam GEOP4335. Chapter 8: Supplier Selection and Evaluation |1. |In today’s competitive environment, progressive firms must be able to produce quality products at reasonable prices. Product | | |quality is a direct result of the _______________ and the ___________. | | |A. management / workforce
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