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:
brainly.com/question/26398073
#SPJ1
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:
$2.80 per chair
$2.25 per table
Explanation:
If cost is assigned at a rate based on direct labor hours, the total disposal cost for chairs and tables is, respectively:
![D_c=\frac{254,000}{16,400+254,000}*\$630,000=\$591,789.94\\D_t=\frac{16,400}{16,400+254,000}*\$630,000=\$38,210.06\\](https://tex.z-dn.net/?f=D_c%3D%5Cfrac%7B254%2C000%7D%7B16%2C400%2B254%2C000%7D%2A%5C%24630%2C000%3D%5C%24591%2C789.94%5C%5CD_t%3D%5Cfrac%7B16%2C400%7D%7B16%2C400%2B254%2C000%7D%2A%5C%24630%2C000%3D%5C%2438%2C210.06%5C%5C)
The respective disposal cost per unit is:
![C = \frac{\$591,789.94}{211,000}=\$2.80/chair\\ T=\frac{\$38,210.06}{17,000}=\$2.25/ table](https://tex.z-dn.net/?f=C%20%3D%20%5Cfrac%7B%5C%24591%2C789.94%7D%7B211%2C000%7D%3D%5C%242.80%2Fchair%5C%5C%20T%3D%5Cfrac%7B%5C%2438%2C210.06%7D%7B17%2C000%7D%3D%5C%242.25%2F%20table)
Answer:
The contribution margin per unit is $5.1
Explanation:
The contribution margin per unit is the amount from selling price per unit after deducting all the related variable costs per unit. This is the amount that each product contributes towards covering the fixed costs.
<u />
<u />
<u>Contribution margin per unit:</u>
Selling price per unit 18.7
<u>Less : Variable cost per unit</u>
Direct material (7.05)
Direct labor (3.5)
Variable manufacturing Overhead (1.65)
Sales commission (1.00)
Variable Admin expense <u> (0.40)</u>
Contribution margin per unit 5.1
my insta dfl.jacob i can help you
The cost of goods purchased for the period is $90,000 having the required account balances .
<h3>Account balances </h3>
An account balance is the amount of money present in a financial repository, such as a savings or checking account, at any given moment. The account balance is always the net amount after factoring in all debits and credits. An account balance that falls below zero represents a net debt—for example, when there is an overdraft on a checking account. For financial accounts that have recurring bills, such as an electric bill or a mortgage, an account balance may also reflect an amount owed.
Learn more about account balance here :
brainly.com/question/23271078
#SPJ4