Includes examples of internal inventory control and cash along with cash documentation procedures. Best practices included.
A)what are some examples of an internal control for inventory? Cash? b)What are some examples of proper documentation for cash?
Drake Radio Drake Radio got its start during World War I by manufacturing radio communications equipment for the military. By the start of World War II, Drake was one of the largest suppliers of military communications equipment. After World War II, Drake diversified into the following three market areas: Military communi
Can someone assist me with the attached Operations Management Problems? Textbook is Foundations of Operations Management by Larry P. Ritzman and Lee J. Krajewski Please see attached file for full problem description. APPLICATION 10.1: ESTIMATING INVENTORY LEVELS Management has decided to establish three DCs in its s
John Lindsay sells disks that contain 25 software packages that perform a variety of financial functions including net present value, internal rate of return, and other financial programs tpically used by business students majoring in finance. Depending on the quantity ordered, JOhn offers the following price discounts. The annu
Please show all work on attached form in detail. Thank you.
Hayes Electronic stocks and sells a particular brand of personal computer. It costs the firm $450 each time it places an order with the manufacturer for the personal computers. The cost of carrying one PC in inventory for a year is $170. The store manager estimates that the total annual demand for the computers will be 1,200 uni
Dear OTA, Please help me with detail explanation and working wherever necessary. Please see attachment. Thanks Martin Pullin Bicycle Corporation (MPBC), located in Dallas, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by cousins Ray Martin and Jim Pullin, the firm's primary retail outlets
Herget, Inc employs a normal costing system. The following information pertains to the year just ended. Total manufacturing costs were $2,500,000. Costs of Goods Manufactured was $2,425,000. Applied manufacturing overhead was 30 percent of total manufacturing costs. Manufacturing overhead was applied to production at a
In your own words answer the following.... A) What are the particular items an analyst should review and study in a company's annual report, and what material in the annual report should be read with caution? B) What are some intangible factors that are important in evaluating a company's financial position and performan
Jerry Stone owns and operates a small beach shop in a mall on Sanibel Island, Florida. For the last six months, Jerry has had a display of sunglasses in the front window. Largely because of the display, Jerry has sold 100 pairs of sunglasses per month at an average cost of $26 and selling price of $50. The sales volume has doubl
Given the following selected account balances of Randa Company, prepare its manufacturing statement in proper form for the year ended on December 31, 2005. Include a listing of the individual overhead account balances in this statement. Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,252,000 R
Henderson Furniture sells reproductions of 18th century furniture. For a particular table, the assumptions of the inventory model with back orders are valid. D = 200 tables per year I = 25% per year C = $800 per table Co = $80 per order Cb = $50 per table per year The store is open 250 days a year. 3a. What are the val
Compare and contrast service and merchandising businesses. What accounts would be found in a merchandising business, but not in a service business. How do the financial statements differ?
Use the following information to answer questions 39 - 42. For January, a firm's equivalent units of production for materials and conversion costs are 20,000 and 16,000, respectively. The total cost of materials used during the month is $64,000, and conversion costs are $80,000. Materials costs and conversion costs in the beginn
A. Given the data of past demand for surgical and exam gloves, how did you decide on the forecast for each to use in the inventory management planning? How did you take into account that surgical gloves can be substituted for exam gloves but exam gloves cannot be substituted for surgical gloves? How did you take into accou
12-19 Annual demand for the Doll two-drawer filing cabinet is 50,000 units. Bill Doll, president of Doll Office Suppliers, controls one of the largest office supply stores in Nevada. He estimates that the ordering cost is $10 per order. The carrying cost is $4 per unit per year. It takes 25 days between the time that Bill place
Demand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normal distribution with a mean of 21 gallons per week and a standard deviation of 3.5 gallons per week. The new manager desires a service level of 90 percent. Lead time is 2 days, and the dairy is open seven times a week. (work in terms of wee
A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8 per stone for quantities of 600 stones or more, $9 per stone for orders of 400 to 599 and $10 per stone for lesser quantities. The jewelry firm operates 200 days per year. Usage rate is 25 stones per day and ordering costs a
The Friendly Sausage Factory can produce hot dogs at a rate of 5,000 per day. The company supplies hot dogs to local restaurants at a steady rate of 250 per day. The cost to prepare the equipment for producing hot dogs is $66. Annual holding costs are 45 cents per hot dog. The factory operates 300 days a year. Find: A) Th
A small copy center uses five 500 sheet boxes of copy paper a week. Experience suggests that usage can be well approximated by a normal distribution with a mean of 5 boxes per week and a standard deviation of one-half box per week. Two weeks are required to fill an order for letterhead stationary. Ordering cost is $ 2.00 and an
(1)-P9-9-(Statement and Note Disclosure, LCM, and Purchase commitment) Garth Brooks Specially Company, a division of Fresh Horses Inc., manufactures three models of gear shift components for bicycles that are sold to bicycle manufactures, retailers, and catalog outlets. Since beginning operations in 1975, Brooks has used norm
Peacock Company is a wholesaler of soft goods. The inventory is composed of approximately 3,500 different items. The company employs a computerized batch processing system to maintain its perpetual inventory records. The system is run each weekend so the inventory reports are available on Monday morning for management use. The s
Seismic Testing is involved in the business of testing subterranean areas for the presence of oil and other minerals. In its business, it uses a highly specialized and very dangerous explosive to generate the subterranean sound ways that it interprets to determine what is underground in a specific area. Because the explosive it
Does working capital management also include the turnover of A/R, inventory and payables?
First City Bank orders cash from the Federal Reserve Board to meet daily transaction needs. Linda Davis, the operations manager, estimates that $5,000,000 in cash will be needed next month. She has estimated that the cost to order, receive, and store each shipment of cash from the Federal reserve Board will be $675 per shipmen
Jan Kottas is the owner of a small company that buys and resells electric knives used to cut fabric. The annual demand is for 8,000 knives, and Jan is currently buying from Knives-R-Us. The ordering cost is $100 per order. The carrying cost per year is 4% of the acquisition cost of the knife, which is $20.00. a) Using the
Determine the quarterly production rate required to meet total demand for the year, without resorting to backorders or stockouts. Use the level-inventory strategy that minimizes the anticipation inventory that would be left over at the end of the year. Beginning inventory is zero.
The Donald Fertilizer Company produces industrial chemical fertilizers. The projected manufacturing requirements( in thousands of gallons) for the next four quarters are 80, 50,80 and 130 respectively. Stockouts and backorders are to be avoided. A level-inventory production strategy is desired. a) Determine the quarterly pro
The Bawl Corporation supplies alloy ball bearings to auto manufacturers in Detroit. Because of its specialized manufacturing process, considerable work-in-process and raw materials are needed. The current inventory levels are $2,470,000 and $1,566,000, respectively. In addition, finished goods inventory is $1,200,000 and sales (at cost) for the current year are expected to be about 48 million.
The Bawl Corporation supplies alloy ball bearings to auto manufacturers in Detroit. Because of its specialized manufacturing process, considerable work-in-process and raw materials are needed. The current inventory levels are $2,470,000 and $1,566,000, respectively. In addition, finished goods inventory is $1,200,000 and sales (
Why are consigned goods not included in the physical inventory? Why would goods not present be determined in inventory? What impact does FOB shipping point and FOB destinations have on revenue recognition? Find a company, and find if this company uses FOB shipping point or FOB destination. Explain why a company would choose one