Answer:please see below for answes
Explanation:
1. Several individuals operate the cash register using the same register drawer--- Weak Internal control --- Establishment of responsibilities is violated.
2. A monthly bank reconciliation is prepared by someone who has no other cash responsibilities-----Good---The procedures follows independent internal verification.
3. Joe Cockrell writes checks and also records cash payment entries.-----Weak Internal control ------Segregation of duties is violated
4. One individual orders inventory, while a different individual authorizes payments.---- Good---- The procedures follow the Segregation of duties .
5. Unnumbered sales invoices from credit sales are forwarded to the accounting department every four weeks for recording.---- Weak-----The procedure here does not follow good documentation and procedures.
----Internal controls are measures laid out by companies to ensure its employees are compliant in following set regulations and standards to ensure financial reports are not manipulated and promoting effective operations in order safeguard it's assets from unauthorized use or theft.
Some internal controls include Segregation of duties, documentation procedures, proper authorization, establishment of responsibilities etc.
Answer:
(1)
Fees revenues 42,600
Total expenses 1.92 x 4260 = 8179.2
<em>Net income 34,420.8</em>
<em>(2)</em>
Fees revenues 42,600
Variable cost 2,982
Contribution Margin 39,618
Fixed Cost 14,400
Net Income 25,218
Explanation:
(1)
We multiply by the garment cleaned
10 x 4,260 = 42,600
0.7 x 4,260 = 2982
and distribute the fixed cost among the normal capacity
14,400 / 7,500 = 1.92 fixed cost per garment cleaned
.7 + 1.92 = 2.62 cost per garment
(2)
We do not include the fixed cost in the unit cost, we subtact them completely as an expense.
The answer would be B
(self-concept is how one sees their self and their image, thus the “self” part of the word)
Answer: the insurance application has been submitted.
Explanation:
Insurance is a contract which is typically represented by a policy, whereby an individual will receive financial protection in case there are losses against the thing that was insured.
Since the insurance is a contract, an offer can be made when there has been an application for the insurance which would have been submitted.
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