When a company uses a service organization to prepare its payroll, the company's auditors need to understand the internal controls over the transaction regardless of the location of the control.
<h3>What is meant by payroll?</h3>
A payroll is a list of the employees of a company who are eligible for payments and other work perks, as well as the amounts that each person is supposed to receive.
Payroll is the process of paying employees of a business, which includes keeping track of hours worked, figuring out salaries, and sending checks or direct deposits to employees' bank accounts.
A Payroll Specialist with 2-3 years of work experience can earn an average income of up to 7 lakh per year. In addition, you may be eligible for a bonus between INR 30,000 and INR 40,000, based on your performance and work history.
Regardless of where the control is placed, the internal controls over the transaction must be understood by the company's auditors when the firm contracts a service provider to produce its payroll.
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Assuming that you continue 4 years, and you started freshman year in 2017, you will graduate in 2021.
If you were a freshman coming into 2017, again assuming you do not get held back, you were graduate in 2020
Answer:
$4,520
Explanation:
Calculation for the cost of unused capacity that would be reported as a period expense on the income statement prepared for internal management purposes
First step is to calculate the Predetermine overhead rate using this formula
Predetermined overhead rate based on capacity = Estimated total fixed manufacturing overhead cost ÷ Estimated total amount of the allocation base
Let plug in the formula
Predetermined overhead rate based on capacity=$ 30,510÷270 hours
Predetermined overhead rate based on capacity=$113 per hour
Now let calculate the Cost of unused capacity using this formula
Cost of unused capacity =( Estimated total amount of the allocation base − Actual amount of the allocation base) × Predetermined overhead rate
Let plug in the formula
Cost of unused capacity= (270 hours − 230 hours) *$113 per hour
Cost of unused capacity=40 hours* $113 per hour
Cost of unused capacity=$4,520
Therefore the cost of unused capacity that would be reported as a period expense on the income statement prepared for internal management purposes will be $4,520
I like all of them but the T. rex is my all time fav
Answer:
Gelb Company should choose to Buy the Component since it is the cheaper option. This gives a cost advantage of $28,875.
Explanation:
For each Option, include costs which are unavoidable because those would change as a result of this decision, they are relevant costs items.
Total incremental cost : Making
Variable costs (52,500 x $4.05) $212,625
Fixed Costs (unavoidable) $75,500
Total $288,125
Total incremental cost : Buying
Purchase Price ( 52,500 x $3.50) $183,750
Fixed Costs (unavoidable) $75,500
Total $259,250
Conclusion :
Gelb Company should choose to Buy the Component since it is the cheaper option. This gives a cost advantage of $28,875 ($288,125 - $259,250).
