Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Internal auditor
Explanation:
An internal auditor is a trained professional that has the responsibility of providing concise and precise evaluations on the financial and operational activities of an organization.
The job of an internal auditor involves the following:
1. review an organization's business processes.
2. evaluation and assessment of risk management procedures that are currently in place in the organization.
3. protect the organization and its finances against fraud and theft of the organization's assets.
From the above stated functions of an internal auditor, it can be seen in the question also that risk information can only be gotten from the internal auditor.
Answer:
For all types of classes, the width is same i.e 30.9
Explanation:
The width of each class is a difference between the frequency and sale price.
In Mathematically,
Width = Frequency - Sale price
So for all each class, the width is shown below :
1. 110.9 - 80.0 = 30.9
2. 141.9 - 111.0 = 30.9
3. 172.9 - 142.0 = 30.9
4. 203.9 - 173.0 = 30.9
5. 234.9 - 204.0 = 30.9
6. 265.9 - 235.0 = 30.9
Hence, For all types of classes, the width is same i.e 30.9
Answer:
Net Operating income of the company is $88,000.
Explanation:
Segmented Income Statement
Consumer Commercial Total
Sales revenue 390000 530000 920000
Less: Variable cost 179000 265000 444000
Contribution margin 211000 265000 476000
Less: Traceable fixed cost 59000 64000 123000
Segment margin 152000 201000 353000
Less: Common Fixed cost 265000
Net Operating income 88000
Answer:
b. 42.12 days
Explanation:
Calculation for Graber company's average collection period will be:
Using this formula
Average collection period =Sales/[(Beginning accounts receivable +Ending accounts receivable)/2]
Let plug in the formula
130,000/[(18,000 + 12,000)/2]
=130,000/(30,000/2)
130,000/15,000
= 8.66days
Hence,
365/8.666666
=42.12 days
Therefore Graber company's average collection period will be 42.12 days
