Your answer is...............d. If you were starting college all over again, what courses would you take?
Answer:
Sell before assembly, The company will be better off by $4 Per Unit
Explanation:
Calculation to determine what decision should Vaughn make
PROFIT BEFORE ASSEMBLY
Profit = Sale price - Cost price
Profit= $51 - $24
Profit= $27 Per Unit
PROFIT AFTER ASSEMBLY
First step is calculate the Cost of Assembled Product
Cost of Assembled Product =$24 + $14
Cost of Assembled Product= $38 Per Unit
Now let determine the profit
Profit = Sale price - Cost price
Profit= $61 - $38
Profit = $23 Per Unit
Now let Determine what decision should Vaughn make
Hence, the Profit by selling assembled product is LOWER than selling the Unassembled product by :
$27 Per Unit - $23 Per Unit
= $4 Per Unit
Therefore the decision that Vaughn should make is: Sell before assembly, The company will be better off by $4 Per Unit
Answer:
Answer is B Just got it right
Answer:
Total cash collection= $62,600
Explanation:
Giving the following information:
Month Cash Sales Credit Sales
March $20,000 $10,000
April $36,000 $16,000
May $42,000 $40,000
Credit collections are 25% in the month of sale, 60% in the month following the sale, and 10% two months following the sale.
<u>Cash collection May:</u>
Sales in cash May= 42,000
Sales on account May= (40,000*0.25)= 10,000
Sales on account April= (16,000*0.6)= 9,600
Sales on account March= (10,000*0.1)= 1,000
Total cash collection= $62,600
Answer:
1. Audit
2. Internal control
3. Prevention
4. Fraud triangle
5. Ethics
Explanation:
1. Audit: it involves the process of examining whether financial statements are prepared using the Generally Accepted Accounting Principles (GAAP).
2. Internal control: they are procedures set up to protect company property and equipment, ensure reliable accounting, promote efficiency, and encourage adherence to policies.
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.
3. Prevention: it's a less expensive and more effective means to stop fraud.
4. Fraud triangle: three factors push a person to commit fraud: opportunity, pressure, and rationalization.
5. Ethics: beliefs that distinguish right from wrong.