In order to preserve independence, Michael must "Remove himself from the engagement as he considers the offer." (Option B). It is to be noted that this is an internal control problem.
<h3>
What is Independence in this case?</h3>
The absence of situations that jeopardize the internal audit activity's capacity to carry out internal audit tasks objectively is called Independence.
Practically, independence is achieved by ensuring that the internal audit activity has no management control for any of the organization's non-audit functions that are subject to internal audit assessments, and by distancing the internal audit activity's management from the functional oversight of the organization's senior management.
Learn more about internal control:
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Full Question:
Michael was on the ABC Accounting Firm's audit team for the Rasmussen Corporation audit. Rasmussen's officers were so impressed with Michael that they offered him a job as Director of Internal Audit at Rasmussen. What should Michael do in order to preserve independence?
A) Tell his superiors as soon as he has decided whether or not to accept the offer.
B) Remove himself from the engagement as he considers the offer.
C) Pray for divine guidance.
D) If he decides to reject the offer, remove himself permanently from the engagement.
Answer: target
Explanation:
A target market are the group of customers which a business or a company directs the resources and its marketing efforts towards.
From the question above, since Millennials who patronize restaurants and other out-of-home food purveyors have become increasingly health- and nutrition-conscious, the strategy used by many fast food companies to improve the nutritional profile of their menus by adding items such as salads, fresh fruit, and plant-based meat substitutes is intended primarily to target millennial customers.
The fast food companies are aware that by adding items such as salads, fresh fruit, and plant-based meat substitutes, this may convince Millennial customers to try them out.
Therefore, the answer is option d"targets".
Answer:
$1,901,385
Explanation:
First unit produced by lambda took 5,000 hours to produce and required $30,000 worth of materials and equipment usage.
The second unit took 4,500 hours and used $24,000 worth of materials and equipment usage.
learning rate = time needed to produce second unit / time needed to produce first unit = 4,500 hours / 5,000 hours = 90%
materials and equipment usage rate = $24,000 / $30,000 = 80%
using the attached table of cumulative values, we can determine the cumulative improvement factors needed to solve this question:
Olsan's accumulated cost for producing 20 more guidance controls
-
work hours = 4,500 x 14.61 (90% and 20 units) x $25 per hour = $1,643,625
- materials and equipment = $24,000 x 10.74 (95% and 20 units) = $257,760
- total = $1,901,385
I would think the answer is C.
Answer:
1a. Predetermined overheard rate is $20.8
1b. Product cost for each product:
Xactive ($) Pathbreaker ($)
<u> 113.72 86.4</u>
Explanation:
1(a)
Predetermined overheard rate is calculated with formula:
<u>Budgeted Cost</u>
Activity Level
For Rocky Mountain:
= <u>$2,687,360</u>
129,200
= $20.8
1 (b) Product cost involves the total cost incurred directly as a result of making a product. Product cost is calculated by adding direct material cost, direct labour cost and manufacturing overheard together.
Product cost
Xactive Pathbreaker
Direct material 65.60 51.80
Direct labour cost 19.00 13.80
Manufacturing overheard($20.8) <u>29.12 20.8</u>
<u>113.72 86.4</u>
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