Locker Rentals Corp. (LRC) operates locker rental services at several locations throughout the city including the airport, bus depot, shopping malls, and athletics facilities. Unlike some of the old mechanical lockers that charge a fixed amount per use, LRCs lockers operate electronically and are able to charge based on hours of use. The locker system transmits a daily message to LRC's office indicating the number of hours that lockers have been used, which the office manager uses to determine when cash should be picked up at each location. LRCs cash receipts system is described below. For each statement (a)-(g), identify the internal control principle being applied.
a. Two employees ("cash collection clerks") are responsible for collecting cash from the lockers. Based on instructions from the office manager, one clerk collects cash from specific locations on the west side of the city and the other collects from specific locations on the east side. _____
b. When each cash collection clerk returns with the cash, a supervisor counts the cash and prepares a cash count sheet. _____
c. The supervisor summarizes the cash count sheets in a prenumbered daily cash summary and files the prenumbered cash count sheets by date. _____
d. The supervisor places the cash in a locked cashbox until it is taken to the bank for deposit. _____
e. The supervisor, not the cash collection clerks, takes the cash to the bank for deposit. _____
f. The supervisor prepares a duplicate deposit slip, which the bank stamps after the deposit is made, to indicate the date and amount of the deposit. _____
g. The supervisor sends the stamped bank deposit slip and daily cash summary to the accountant, who compares them before preparing a journal entry debiting Cash and crediting Locker Rental Revenue

Answers

Answer 1

a. Two employees ("cash collection clerks") are responsible for collecting cash from the lockers. Based on instructions from the office manager, one clerk collects cash from specific locations on the west side of the city and the other collects from specific locations on the east side. Establish Rsponsibility.

b. When each cash collection clerk returns with the cash, a supervisor counts the cash and prepares a cash count sheet. Document Procedures.

c. The supervisor summarizes the cash count sheets in a prenumbered daily cash summary and files the prenumbered cash count sheets by date. Document Procedures.

d. The supervisor places the cash in a locked cashbox until it is taken to the bank for deposit. Restrict Access.

e. The supervisor, not the cash collection clerks, takes the cash to the bank for deposit. Segregation of Duties.

f. The supervisor prepares a duplicate deposit slip, which the bank stamps after the deposit is made, to indicate the date and amount of the deposit. Document Procedures.

g. The supervisor sends the stamped bank deposit slip and daily cash summary to the accountant, who compares them before preparing a journal entry debiting Cash and crediting Locker Rental Revenue. Independent Verification.

The internal control principles being applied in the given scenarios are as follows. Firstly, the principle of establishing responsibility is demonstrated by having two cash collection clerks assigned to specific locations, ensuring accountability and minimizing the risk of fraud. Secondly, documenting procedures is evident when the supervisor counts the cash and prepares a cash count sheet upon the return of each clerk.

This documentation provides a record of the cash collected and acts as evidence for future reference. Furthermore, the supervisor summarizes the cash count sheets in a prenumbered daily cash summary, promoting organization and facilitating reconciliation. Restricting access is implemented as the supervisor places the cash in a locked cashbox until it is taken to the bank for deposit, safeguarding the funds from unauthorized handling. The principle of segregation of duties is observed as the supervisor, rather than the cash collection clerks, takes the cash to the bank, reducing the risk of collusion.

Additionally, the preparation of a duplicate deposit slip and its subsequent stamping by the bank serves as a documented procedure, ensuring accuracy and providing a traceable record of the deposit. Lastly, independent verification is applied as the accountant compares the stamped bank deposit slip and the daily cash summary, ensuring consistency before preparing the necessary journal entry.

Learn more about internal control principles: https://brainly.com/question/27907430

#SPJ11


Related Questions

If an IMF member country were to find itself in a severe balance of payments crisis that threatened its financial stability, the IMF would most likely:a. reduce the country's quota.b. give the country an emergency grant.c. give the country a loan but require the country to make long-term policy reforms.d. all of these answers

Answers

Main answer: The IMF would most likely give the country a loan but require the country to make long-term policy reforms if it found itself in a severe balance of payments crisis that threatened its financial stability.

The IMF's primary purpose is to promote international monetary cooperation, facilitate international trade, promote economic growth and stability, and reduce poverty. One of its key functions is to provide financial assistance to member countries facing balance of payments difficulties. However, this assistance typically comes with conditions and requires the country to make policy reforms to address the underlying causes of the crisis and promote long-term economic stability. This approach is intended to ensure that the country does not become overly reliant on IMF assistance and that the funds provided are used effectively and responsibly.

The other options, reducing the country's quota and giving the country an emergency grant, are unlikely to be effective in addressing a severe balance of payments crisis. Reducing the country's quota would reduce its financial contribution to the IMF, which may be counterproductive in a crisis situation. An emergency grant, while helpful in the short term, may not be sufficient to address the underlying causes of the crisis and promote long term stability. Therefore, the most effective approach is to provide a loan with conditions that encourage the country to make necessary policy reforms.

To know more about financial visit:

https://brainly.com/question/31758613

#SPJ11

The pipelined MIPS processor is running the following program. Which registers are being written, and which are being read on the fifth cycle? addi $s1, $s2, 5 sub $t0, $t1, $t2 lw $t3, 15($s1) sw $t5, 72($t0) or $t2, $s4, $s5 Exercise 7.29 Repeat Exercise 7.28 for the following MIPS program. Recall that the pipelined MIPS processor has a hazard unit. add $s0, $t0, $t1 sub $s1, $t2, $t3 and $s2, $s0, $s1 or $s3, $t4, $t5 slt $s4, $s2, $s3

Answers

The registers being written in the fifth cycle are $s1, $t0, $t3, and $t2. The registers being read are [tex]s2, $t1, $t2, $s1, $t0, $t5, $s4[/tex], and [tex]$s5.[/tex]

To determine which registers are being written and read on the fifth cycle in the given program, we need to consider the data dependencies and the pipeline stages.

In the pipelined MIPS processor, each instruction goes through several stages: Instruction Fetch (IF), Instruction Decode/Register Fetch (ID/RF), Execution (EX), Memory Access (MEM), and Write Back (WB).

In the fifth cycle, the instructions in the program are as follows:

addi $s1, $s2, 5

Registers being written: $s1

Registers being read: $s2

sub $t0, $t1, $t2

Registers being written: $t0

Registers being read: $t1, $t2

lw $t3, 15($s1)

Registers being written: $t3

Registers being read: $s1

sw $t5, 72($t0)

Registers being written: None (store instruction)

Registers being read:[tex]$t0, $t5[/tex]

or [tex]t2, $s4, $s5[/tex]

Registers being written: [tex]$t2[/tex]

Registers being read: [tex]s4, $s5[/tex]

Based on this analysis, the registers being written in the fifth cycle are $s1, $t0, $t3, and $t2. The registers being read are [tex]s2, $t1, $t2, $s1, $t0, $t5, $s4[/tex], and [tex]$s5.[/tex]

Learn more about fifth cycle

https://brainly.com/question/31712522

#SPJ4

Wall
QUESTION 5/10
Which of the following is the BEST reason to use cash for making purchases?
A. Knowing what you have spent your money on is simple.
C. Splitting bills with friends is easier.
B. Keeping track of how much you have spent is simple.
D. Getting more cash from an ATM machine is easy to do.
May 11

Answers

Knowing what you have spent your money on is simply of the following is the best reason to use cash for making purchases. The correct option is A.

When paying with cash, you have an easy way to keep track of and manage your purchases. When you keep track of your spending, you can make sure your money is being utilized wisely and you will know where it goes. You can learn why you're in debt and how you got there by keeping track of your spending. You can then use this information to create a debt relief plan that works for you.

Thus, the ideal selection is option A.

Learn more about Cash Purchases here:

https://brainly.com/question/28392657

#SPJ1

entrepreneurs must understand that no conventional lender, whether private or public, will

Answers

Entrepreneurs must understand that no conventional lender, whether private or public, will provide funding without a reasonable assurance of repayment.

Lenders are risk-averse and seek to mitigate the potential for financial loss. They evaluate loan applications based on various factors such as creditworthiness, business viability, collateral, and repayment capacity. Therefore, entrepreneurs need to demonstrate a solid business plan, financial stability, a good credit history, and a clear repayment strategy to increase their chances of securing funding.

Additionally, alternative financing options such as angel investors, venture capitalists, crowdfunding, or government grants may be more suitable for entrepreneurs seeking funding for high-risk or innovative ventures.

Learn more about Entrepreneurs

https://brainly.com/question/31010585

#SPJ4

All of the following were popular types of online marketing before 2007 except: A) e-mail. B) corporate Web sites. C) mobile marketing. D) display ads.

Answers

Mobile marketing refers to the practice of promoting products, services, or brands through mobile devices such as smartphones and tablets.

All of the following were popular types of online marketing before 2007 except: C) mobile marketing. Before 2007, mobile marketing was not as prevalent as other forms of online marketing such as e-mail marketing, corporate websites, and display ads. Mobile marketing gained significant popularity in the following years with the widespread adoption of smartphones and mobile internet access.

Learn more about mobile marketing here:

https://brainly.com/question/31765742

#SPJ11

broker bob, who was not your agent, told a prospective tenant that he was your agent and had authority to lease your property. bob leased your property to tenant, told you about the lease, and you accepted the rent from tenant. your act of accepting rent has:

Answers

Your act of accepting rent from the tenant, even after being informed by Bob about the lease, may imply an implied agency relationship between you and Bob. By accepting the rent, you could be seen as ratifying Bob's actions and confirming his authority as your agent, even if he falsely claimed to be your agent to the prospective tenant.

Therefore, accepting the rent from the tenant could create a legal situation where you are bound by the lease agreement that Bob entered into on your behalf, despite his misrepresentation. It is important to consult with legal professionals to fully understand the implications and potential remedies in this specific situation.

Learn more about rent here:

brainly.com/question/28481564

#SPJ11

The Monarch Division of Allgood Corporation has a current ROI of 12 percent. The company target ROI is 8 percent. The Monarch Division has an opportunity to invest $4,800,000 at 10 percent but is reluctant to do so because its ROI will fall to 11.25 percent. The present investment base for the division is $8,000,000. Required Calculate the current residual income and the residual income with the new investment opportunity being included. Based on your answers to requirement a, should Monarch Division make the investment?
Calculate the current residual income and the residual income with the new investment opportunity being included.
Based on your answers to requirement a, should Monarch Division make the investment?

Answers

The current residual income for the Monarch Division is $960,000, and with the new investment opportunity, the residual income would be $1,080,000. The Monarch should make the investment.

Residual income is a performance measure that assesses the profitability of a division by comparing its actual income to its required minimum rate of return. It is calculated by subtracting the required minimum rate of return from the division's operating income.

(a) To calculate the current residual income, we multiply the current ROI (12%) by the division's current investment base ($8,000,000):

Current Residual Income = Current ROI * Current Investment Base

Current Residual Income = 0.12 * $8,000,000

Current Residual Income = $960,000

(b) To calculate the residual income with the new investment opportunity, we multiply the new ROI (11.25%) by the division's investment including the new opportunity ($8,000,000 + $4,800,000):

Residual Income with New Investment = New ROI * (Current Investment Base + New Investment)

Residual Income with New Investment = 0.1125 * ($8,000,000 + $4,800,000)

Residual Income with New Investment = $1,080,000

Based on these calculations, the Monarch Division should make the investment. The current residual income is $960,000, and with the new investment opportunity, the residual income would increase to $1,080,000. This indicates that the investment would contribute positively to the division's profitability. Since the residual income is higher with the investment, it suggests that the division can generate a return higher than its required rate of return (8%) by undertaking the new opportunity. Therefore, making the investment would be beneficial for the Monarch Division.

Learn more about Residual income here:

https://brainly.com/question/30387418

#SPJ11

which of the following is a core value emphasized by the american culture? group of answer choices high power distance collectivism efficiency aversion to consumerism

Answers

One core value emphasized by American culture is efficiency.

American culture places a strong emphasis on efficiency as a core value. Efficiency refers to the ability to accomplish tasks quickly and effectively, maximizing productivity and minimizing wasted time or resources. This value is deeply ingrained in various aspects of American society, including business practices, technological advancements, and everyday life.

In the context of business, American culture values efficiency as a means to achieve success and competitiveness. This can be seen in the emphasis on productivity, time management, and streamlined processes. American businesses strive to optimize operations, increase output, and deliver products and services in a timely manner.

Furthermore, American society values efficiency in terms of technological innovation. The United States has a reputation for being at the forefront of technological advancements and adopting new technologies to improve efficiency in various sectors. This includes advancements in industries such as manufacturing, transportation, communication, and information technology.

To learn more about american culture- brainly.com/question/30587096

#spj11

(figure: the quantity of pollution in coal production) use figure: the quantity of pollution in coal production. when this economy produces 50 tons of emissions: the economy is producing at the socially optimal level of pollution. the economy would benefit from more coal production. the level of pollution is not socially optimal. the marginal social benefit of pollution is greater than the marginal social cost

Answers

The quantity of pollution in coal production. when this economy produces 50 tons of emissions. The level of pollution is not socially optimal.

Based on the information given, when the economy produces 50 tons of emissions, it implies that there is pollution resulting from coal production. If the economy were producing at the socially optimal level of pollution, it would mean that the quantity of pollution is deemed acceptable and does not exceed the level that society considers appropriate for the given production level.

However, since it is stated that the economy is producing 50 tons of emissions, it indicates that the level of pollution is not socially optimal. The term "socially optimal" implies that the pollution level should be at a point where the marginal social benefit of pollution is equal to the marginal social cost. In this case, without further information about the marginal social benefit and cost of pollution, we cannot determine whether the economy would benefit from more coal production or if the marginal social benefit of pollution is greater than the marginal social cost.

To learn more about economy  click here

brainly.com/question/30131108

#SPJ11

Which of the following have been found to be ethical norms in business? -honesty-fairness-self-interest-reciprocity-deception

Answers

In the context of ethical norms in business, the following terms are considered important for maintaining a positive and ethical business environment. The correct option is e) deception.

1. Honesty: Being truthful and transparent in all business dealings and communications.
2. Fairness: Treating all parties involved, such as employees, customers, and suppliers, with equal respect and without discrimination.
3. Reciprocity: Ensuring mutual benefit in transactions and relationships, where all parties contribute and receive value.
4. Self-interest, when balanced with other ethical norms, can also be considered ethical as long as it does not lead to unethical behavior or harm others.

Deception, on the other hand, is not an ethical norm in business as it involves misleading or manipulating others for personal or organizational gain, which goes against the principles of honesty and fairness.

To learn more about environment, visit:

https://brainly.com/question/30194704

#SPJ11

he unsegmented strategy

Answers

The unsegmented strategy refers to an approach where a company targets the entire market as a whole, without dividing it into specific segments. In this strategy, the company develops a single marketing mix and promotional message that is intended to appeal to the entire target market.In an unsegmented strategy, the company assumes that the needs, preferences, and behaviors of the entire market are relatively similar, and therefore, a uniform marketing approach can effectively reach and satisfy the target audience.

However, this strategy may overlook the potential differences and unique characteristics among various market segments. By not considering segmentation, the company may miss out on opportunities to tailor its offerings to specific customer groups and provide more targeted and personalized marketing efforts.Segmentation allows companies to identify distinct customer groups with specific needs, preferences, and behaviors. By segmenting the market and developing tailored strategies for each segment, companies can potentially increase customer satisfaction, improve marketing effectiveness, and achieve a competitive advantage by better addressing the diverse needs of their customers. Therefore, while the unsegmented strategy may simplify marketing efforts, it may not fully leverage the benefits of segmentation in understanding and meeting popular demands.

To learn more about popular click here: brainly.com/question/11478118

#SPJ11

Property Facts:
100 apartment homes
Average Rent is $1200 per month
Vacancy is 7%
Operating Expenses are 30%
a.What is the annual NOI ?
b.The property sold at a 5% cap rate, what was the sales price ?

Answers

A - The annual Net Operating Income (NOI) is $937,440. B - The sales price of the property at a 5% cap rate is $18,748,800.

a) To calculate the Net Operating Income (NOI), we need to subtract the operating expenses from the total potential rental income.

Total potential rental income = Total number of apartment homes × Average rent per month × 12 months

= 100 × $1200 × 12

= $1,440,000

Vacancy loss = Vacancy rate × Total potential rental income

= 0.07 × $1,440,000

= $100,800

Effective Gross Income (EGI) = Total potential rental income - Vacancy loss

= $1,440,000 - $100,800

= $1,339,200

NOI = EGI - Operating expenses

= $1,339,200 - (30% of $1,339,200)

= $1,339,200 - $401,760

= $937,440

Therefore, the annual Net Operating Income (NOI) is $937,440.

b) The sales price can be determined by dividing the NOI by the cap rate. The cap rate is expressed as a percentage, so we need to convert it to a decimal before calculating.

Cap rate = 5% = 0.05

Sales price = NOI / Cap rate

= $937,440 / 0.05

= $18,748,800

Therefore, the sales price of the property at a 5% cap rate is $18,748,800.

To learn more about Net Operating Income

https://brainly.com/question/30749060

#SPJ4

panera coffee has a beta of 0.86. the risk-free rate of return is 3.3 percent and the market rate of return is 12.0 percent. what is the risk premium on this stock?

Answers

The risk premium on Panera Coffee stock is approximately 7.482%.

To calculate the risk premium on Panera Coffee stock, we need to subtract the risk-free rate of return from the market rate of return and then multiply it by the beta.

Risk premium = (Market rate of return - Risk-free rate of return) * Beta

Given:

Beta = 0.86

Risk-free rate of return = 3.3%

Market rate of return = 12.0%

Risk premium = (12.0% - 3.3%) * 0.86

Calculating the risk premium:

Risk premium = (8.7%) * 0.86

= 7.482%

Click the below link, to learn more about risk premium:

brainly.com/question/14521053

#SPJ11

when a property is financed by means of a deed of trust, to whom are the payments made

Answers

When a property is financed by means of a deed of trust, the payments are made to the lender who holds the deed of trust.

The deed of trust is a legal document that allows the lender to hold a security interest in the property, which means they have the right to foreclose on the property if the borrower defaults on the loan. The deed of trust also outlines the terms of the loan, including the payment schedule, interest rate, and any fees or penalties associated with late payments. It is important for borrowers to understand the terms of their deed of trust and make timely payments to avoid default and potential foreclosure. When a property is financed through a deed of trust, the payments are made to a trustee, typically a title company or a financial institution. The trustee holds the legal title to the property on behalf of the lender, who is known as the beneficiary. The borrower, also known as the trustor, makes regular payments to the trustee according to the terms of the deed of trust. In case of a default, the trustee has the authority to initiate foreclosure proceedings to recover the lender's investment. Upon successful repayment of the loan, the trustee releases the legal title back to the borrower.

To know more about interest visit:

https://brainly.com/question/30393144

#SPJ11

the short-run phillips curve isa downward-sloping line: representing the tradeoff between unemployment and inflation at the natural level of output at the natural rate of unemployment

Answers

The statement you provided is not entirely accurate. The short-run Phillips curve represents the relationship between unemployment and inflation in the short run, but it is not a downward-sloping line at the natural level of output and the natural rate of unemployment.

The short-run Phillips curve typically exhibits a negative or downward slope, indicating an inverse relationship between the unemployment rate and the inflation rate. According to the Phillips curve, when unemployment is low, inflation tends to be higher, and vice versa. This inverse relationship is based on the idea that as the economy approaches full employment, labor markets tighten, leading to wage and price pressures that contribute to higher inflation.

learn more about unemployment here:

https://brainly.com/question/17272067

#SPJ11

Along the supply curve for bonds, an increase in the price of bonds O A. decreases the interest rate and decreases the quantity of bonds supplied. O B. increases the interest rate and increases the quantity of bonds supplied. O C. decreases the interest rate and increases the quantity of bonds supplied. O D. increases the interest rate and decreases the quantity of bonds supplied. If the price of bonds is above the equilibrium price, there occurs an excess

Answers

Correct statement is C. Along the supply curve for bonds, an increase in the price of bonds, decreases the interest rate and increases the quantity of bonds supplied.

How does bond price affect supply?

An increase in the price of bond along the supply curve has the effect of decreasing the interest rate and increasing the quantity of bond supplied. This relationship is due to the inverse relationship between bond prices and bond yields (interest rates). When bond prices increase, the yield or interest rate on those bonds decreases, making them less attractive to investors.

As a result, bond issuers are willing to supply a larger quantity of bonds at the higher price, seeking to take advantage of the lower interest rates. Conversely, if the price of bonds is above the equilibrium price, there will be an excess supply of bonds, indicating that bond prices may need to adjust downward to reach equilibrium.

Therefore, correct statement is C. Along the supply curve for bonds, an increase in the price of bonds, decreases the interest rate and increases the quantity of bonds supplied.

Learn more about bond

brainly.com/question/30508122

#SPJ11

_____ power is dominant when subordinates are obliged to comply by virtue of a boss's authority.

Answers

The power in question is known as "legitimate power". Legitimate power refers to the authority that a person has by virtue of their position or role in an organization or society. When subordinates are obliged to comply with a boss's orders simply because of their position of authority, this is an example of legitimate power being used.

It is important to note that legitimate power can be both formal and informal. Formal legitimate power is derived from a person's formal position of authority within an organization or society, such as a boss or a political leader. Informal legitimate power, on the other hand, is derived from a person's personality, skills, or reputation, and can also influence others to comply with their requests.

It is also worth noting that while legitimate power can be an effective tool for getting things done, it is not always the most effective or ethical form of power. Leaders who rely solely on their formal authority may find that their subordinates comply only out of fear or obligation, rather than out of respect or loyalty. In contrast, leaders who cultivate informal power through positive relationships and a strong sense of purpose can often achieve more sustainable and meaningful outcomes.

Learn more about legitimate power: https://brainly.com/question/29741436

#SPJ11

Many corporations and organizations offer grants to ensure that they will
have a good group of potential employees. This type of grant is called a:
OA. student-specific grant.
B. need-based grant.
C. corporate-based grant.
D. subject-specific grant.

Answers

Answer:

Based on the given information, the type of grant described is most likely a corporate-based grant (c).

Explanation:

A corporate-based grant is a type of financial assistance provided by a company to support a particular project or initiative. In this case, the grant is being used to hire potential employees, which suggests that it is related to a business or organizational need. The grant may be used to support a specific program or recruitment effort aimed at finding the right candidates for the job.

The other options, such as student-specific, need-based, or subject-specific grants, may not be as applicable to the situation described, as they are typically awarded based on other criteria, such as academic performance, financial need, or area of study.

The revenue generated by the Walt Disney Company is approximately related to the size of its workforce according to the equation 3n^3-7000R^2=0 where R is revenue in billions and n is the number of employees in thousands.

(a) Find dR/dn, including units

(b) Find dR/dn when R=63 and n=210, and interpret your answer

Answers

a. Here, dR/dn = 303,900.

b. Here dR/dn = 270,530,000 when R=63 and n=210. This means that the revenue generated by the Walt Disney Company is highly dependent on its workforce size.  

To find dR/dn, we need to differentiate the equation with respect to n.

Using the power rule, we get:

[tex]dR/dn = d/dn (3n^3 - 7000R^2)\\= 3n^2 * dn/dn - 7000 * dR/dn[/tex]

Substituting the given values, we get:

dR/dn = 3 *  [tex]210^2[/tex] * dn/dn - 7000 * 63

= 63 *  [tex]210^2[/tex] - 7000 * 63

= 347,000 - 43,100

= 303,900

(b) To find dR/dn when R=63 and n=210, we substitute the given values into the equation:

dR/dn = 3 *  [tex]210^2[/tex] * dn/dn - 7000 * 63

= 3 *  [tex]210^2[/tex] * (0.00312) - 7000 * 63

= 63 *  [tex]210^2[/tex] - 43,100 * 63

= 303,900 * [tex]210^2[/tex]

= 63 * 4,310,000

= 270,530,000

Learn more about workforce visit: brainly.com/question/30189276

#SPJ4

The following data are given for Zoyza Company: Budgeted production (at 100% of normal capacity) 26,000 units Actual production 27,500 units Materials: Standard price per ounce $6.50 Standard ounces per completed unit 8 Actual ounces purchased and used in production 228,000 Actual price paid for materials $1,504,800 Labor: Standard hourly labor rate $22.00 per hour Standard hours allowed per completed unit 6.6 Actual labor hours worked 183,000 Actual total labor costs $4,020,000 Overhead: Actual and budgeted fixed overhead $1,029,600 Standard variable overhead rate $24.50 per standard labor hour Actual variable overhead costs $4,520,000 Overhead is applied on standard labor hours. The fixed factory overhead volume variance is a.$73,250 unfavorable b.$73,250 favorable c.$59,400 favorable d.$59,400 unfavorable

Answers

The fixed factory overhead volume variance is $3,029,400 favorable. However, none of the given answer choices match this amount.

b. $73,250 favorable

To calculate the fixed factory overhead volume variance, we need to compare the budgeted fixed overhead with the actual fixed overhead applied based on standard labor hours.

Budgeted fixed overhead: $1,029,600

Actual fixed overhead applied (standard labor hours x standard fixed overhead rate):

= 27,500 units x 6.6 hours x $22.00

= $4,059,000

Fixed factory overhead volume variance:

= Budgeted fixed overhead - Actual fixed overhead applied

= $1,029,600 - $4,059,000

= -$3,029,400

Since the fixed factory overhead volume variance is unfavorable, we reverse the sign to make it positive. Therefore, the fixed factory overhead volume variance is $3,029,400 favorable. However, none of the given answer choices match this amount.

To learn more about fixed factory
https://brainly.com/question/17204334
#SPJ11

Under which of the following set of circumstances might the auditors disclaim an opinion? The financial statements contain a departure from generally accepted accounting principles, the effect of which is material. There has been a material change between periods in the method of application of accounting principles. There are significant scope limitations on the audit. The group auditors decide to make reference to the report of component auditor who audited a subsidiary.

Answers

The auditors disclaim an opinion the group auditors decide to make reference to the report of component auditor who audited a subsidiary.

Under any of the circumstances mentioned above, the auditors may disclaim an opinion. The first scenario where there is a departure from generally accepted accounting principles that materially affects the financial statements, the auditors may not be able to form an opinion on the financial statements. Similarly, if there has been a material change between periods in the application of accounting principles, the auditors may disclaim an opinion if they are unable to determine the impact of the change on the financial statements.
If there are significant scope limitations on the audit, the auditors may not be able to obtain sufficient evidence to support their opinion on the financial statements. The auditors may disclaim an opinion or issue a qualified opinion in such circumstances. Finally, if the group auditors decide to make reference to the report of component auditors who audited a subsidiary, the auditors may disclaim an opinion if they are unable to obtain sufficient information to support their opinion on the consolidated financial statements.
In summary, the auditors may disclaim an opinion if there is a departure from generally accepted accounting principles, a material change in the application of accounting principles, significant scope limitations on the audit, or if they are unable to obtain sufficient information to support their opinion on the consolidated financial statements.

To know more about subsidiary visit:

brainly.com/question/31367468

#SPJ11

Suppose​ $1 billion is available in the budget and Congress is considering allocating the funds to one of the following three​ alternatives: 1) Subsidies for​ Education, 2) Research on​ Alzheimer's or​ 3) Increased border security. The table below shows three​ voters' rankings of the alternatives. Suppose a series of votes are taken in which each pair of alternatives is considered in turn. If the vote is between allocating funds to subsidies for education and research on ​Alzheimer's​,
Ivy Jasmine Rose
Subsidies for Education 2nd 3rd 1st
Research on Alzhelmer’s 3rd 1st 2nd
Increased border security 1st 2nd 3rd

Choose the correct option below
A. Ivy and Rose vote for education subsidies, Jasmine votes for Alzheimer's research, and education subsidies wins.
B. Jasmine and lvy vote for Alzheimer's research, Rose votes for education subsidies, and Alzheimer's research wins.
C. Jasmine and Rose vote for Alzheimer's research, Ivy votes for education subsidies, and Alzheimer's research wins.
D. Ivy and Jasmine vote for education subsidies, Rose votes for Alzheimer's research, and education subsidies wins.

Answers

Based on the rankings provided by Ivy, Jasmine, and Rose, the correct option is: D. Ivy and Jasmine vote for education subsidies, Rose votes for Alzheimer's research, and education subsidies win.

In this scenario, Ivy ranks subsidies for education as her second choice, Jasmine ranks it as her third choice, and Rose ranks it as her first choice. On the other hand, Jasmine ranks research on Alzheimer's as her first choice, Ivy ranks it as her third choice, and Rose ranks it as her second choice.

When the vote is taken between subsidies for education and research on Alzheimer's, Ivy and Jasmine both vote for education subsidies, while Rose votes for Alzheimer's research. Since two out of the three voters prefer education subsidies, it wins the vote. Therefore, option D is the correct choice.

Learn more about Alzheimer's research.

https://brainly.com/question/28200248

#SPJ4

which of the following would shift the supply curve for iphones? question 11 options: new rules that limit how much manufacturing can be done abroad. a new wave of interest in henry david thoreau that causes many people to abandon technology in an attempt to live deliberately and authentically. a study showing that 5g really does allow the government to control your mind. the release of a new android device that is totally cooler than the iphone.

Answers

The answer is the first option: new rules that limit how much manufacturing can be done abroad.

If there are new regulations put in place that limit the amount of manufacturing that can be done in other countries, it could cause a decrease in the supply of iPhones. This is because Apple relies heavily on foreign production to keep up with demand and keep prices low. If they are not able to produce as many iPhones, the supply curve will shift to the left, indicating a decrease in supply. This could lead to an increase in price and potentially a decrease in demand if consumers are not willing to pay the higher price. It is important to note that the other options, such as a new wave of interest in Thoreau or a study showing 5g mind control, would not directly impact the supply of iPhones and therefore would not shift the supply curve.

To know more about abroad visit :-

https://brainly.com/question/24067895

#SPJ11

true or false sourcing from multiple suppliers is used to ensure a degree of competition among suppliers and guarantee the possibility of a backup if a source fails to deliver.

Answers

Sourcing from multiple suppliers is used to ensure a degree of competition among suppliers and guarantee the possibility of a backup if a source fails to deliver - True.

Sourcing from multiple suppliers is a strategy commonly used to ensure a degree of competition among suppliers and to guarantee a backup option in case one supplier fails to deliver. By engaging multiple suppliers, organizations can create a competitive environment where suppliers strive to provide better quality, pricing, and service. This competition can lead to improved efficiency and cost-effectiveness for the sourcing organization.

Additionally, having alternative suppliers mitigates the risk of disruptions in the supply chain. If one supplier encounters issues such as delays, capacity constraints, or quality problems, the organization can rely on other suppliers to fulfill its needs. Therefore, sourcing from multiple suppliers offers the benefits of competition and supply chain resilience.

To know more about Sourcing, click here:

https://brainly.com/question/17555894

#SPJ11

True. Sourcing from multiple suppliers is a common practice used by organizations to ensure a degree of competition among suppliers and provide a backup option in case one source fails to deliver.

By diversifying their supplier base, organizations can create competition among suppliers, which can lead to better pricing, quality, and service. It also reduces the risk of relying solely on one supplier, as having alternative sources mitigates the impact of potential disruptions or failures in the supply chain. This strategy helps to maintain a reliable and consistent supply of goods or services, ensuring business continuity and reducing vulnerability to supply chain disruptions. Overall, sourcing from multiple suppliers offers flexibility, competitive advantage, and risk mitigation for organizations.

Learn more about suppliers here :-

https://brainly.com/question/9379790

#SPJ11

why are large financial institutions considered to be too big to fail? what problem does it create?

Answers

Large financial institutions are considered too big to fail because of the significant impact their failure could have on the economy.

These institutions often have numerous interconnected relationships with other financial entities, and their collapse could trigger a chain reaction of failures and panic in financial markets. This problem creates a moral hazard, where these institutions take on greater risks and engage in reckless behavior because they believe that the government will step in and bail them out if they fail. This can lead to a vicious cycle where the government becomes increasingly reliant on bailing out these institutions, which in turn encourages them to take even greater risks.

Furthermore, too big to fail institutions can distort competition in the marketplace, as smaller and medium-sized institutions cannot compete with the advantages that come with being too big to fail. This can lead to a concentration of power in the hands of a few large institutions, reducing choice for consumers and limiting innovation in the financial sector. Overall, the problem of too big to fail creates systemic risk and moral hazard, distorts competition, and limits innovation in the financial sector.

To know more about financial institutions, visit:

https://brainly.com/question/16026225

#SPJ11

S7.11 The three-station work cell illustrated in Figure S7.7, has a product that must go through one of the two machines at station 1 (they are parallel) before proceeding to station 2.

Station 1 Machine A Capacity: 20 units/hr

Station 1 Machine B Capacity: 20 units/hr

Station 2 Capacity: 5 units/hr

Station 3 Capacity: 12 units/hr

a) what is the bottleneck time of the system?

b) what is the bottleneck station of this work cell?

c) what is the throughput time?

d) if the firm operates 10 hrs per day, 5 days per week, what is the weekly capacity of this work cell?

Answers

a. The total bottleneck time is 20 units/hr * 2 hrs/unit = 40 units.

b. The bottleneck station of the work cell is Machine B.

c. The total throughput time is 40 units + 5 units * 12 units/hr = 105 units.

d. The weekly capacity is 80 units/hr * 10 hrs/day * 5 days/week = 20,000 units/week.  

a) The bottleneck time of the system is the time it takes to produce 20 units using Machine B. This is because Machine B has a capacity of 20 units/hr and is the only machine producing at capacity. The total bottleneck time is 20 units/hr * 2 hrs/unit = 40 units.

b) The bottleneck station of the work cell is Machine B, because it has a capacity of 20 units/hr and is the only machine producing at capacity.

c) The throughput time of the system is the total time it takes to produce all 45 units. This is calculated by adding the bottleneck time of 40 units to the time it takes to produce the remaining 5 units using Station 3, which has a capacity of 12 units/hr. The total throughput time is 40 units + 5 units * 12 units/hr = 105 units.

d) If the firm operates 10 hrs per day, 5 days per week, the weekly capacity of this work cell can be calculated by multiplying the daily capacity by the number of days in a week. The daily capacity is the combined capacity of Machines A and B, which is 40 units/hr * 2 hrs/unit = 80 units/hr. Therefore, the weekly capacity is 80 units/hr * 10 hrs/day * 5 days/week = 20,000 units/week.  

Learn more about bottleneck visit: brainly.com/question/29313227

#SPJ4

Which of the following statements about the democratic republic of congo is not true according to the axel springer case? scores 18 out of 187 countries on the human development index armed militias control and tax more than 50% of the mines in eastern congo since 1996, over 5.5 million people have died in eastern congo total mineral wealth of the drc is estimated to be 24 trillion

Answers

According to the Axel Springer case, the statement that is not true about the Democratic Republic of Congo (DRC) is that its total mineral wealth is estimated to be 24 trillion.

The Axel Springer case analyzed the state of the DRC in terms of human rights violations, conflict, and natural resource exploitation. It found that armed militias control and tax more than 50% of the mines in eastern Congo, which has fueled conflict and contributed to the deaths of over 5.5 million people since 1996. Additionally, the DRC scores 18 out of 187 countries on the Human Development Index, indicating low levels of human development. However, the statement that the total mineral wealth of the DRC is estimated to be 24 trillion is not true. While the DRC is rich in natural resources, including cobalt, copper, and gold, the exact value of its mineral wealth is difficult to estimate. Some sources estimate the value of the DRC's mineral resources to be in the trillions, but there is no consensus on an exact figure. Therefore, the statement that the total mineral wealth of the DRC is estimated to be 24 trillion is not supported by the Axel Springer case or other credible sources.

To know more about Democratic Republic of Congo visit :

https://brainly.com/question/30822932

#SPJ11

which of the following is not a component or step of the operating cycle for a service company?

Answers

Buy inventory to be resold to customers does not considered to be a component or step of the operating cycle for a service company.

The operating cycle for a service company typically includes four components or steps: marketing and sales, service delivery, invoicing, and payment collection. None of these steps are excluded from the operating cycle for a service company.
A brief overview of the typical components or steps in the operating cycle for a service company:

1. Marketing and promotion of services
2. Customer acquisition and engagement
3. Service delivery or rendering services to clients
4. Billing and collecting payments
5. Customer follow-up and feedback

To know more about service company, visit:

https://brainly.com/question/14571185

#SPJ11
The complete question is as follows:

which of the following is not a component or step of the operating cycle for a service company?

-Record an increase to accounts receivable when services are performed for customers on account

-Buy inventory to be resold to customers

-All of these are steps of the operating cycle of a service company

-Perform services for customers

-Receive cash payments from customers

True/False. if both sender and receiver use the same key the system is referred to as asymmetric

Answers

The answer is false, if both the sender and receiver use the same key, the system is referred to as symmetric, not asymmetric.

In asymmetric (or public-key) cryptography, two different keys are used: a public key for encryption and a private key for decryption. The public key is widely shared and used by anyone who wants to send an encrypted message to the receiver. The private key, on the other hand, is kept secret by the receiver and is used to decrypt the received message.

In symmetric cryptography, the same key is used for both encryption and decryption. This means that the sender and receiver need to share the same key in advance. The key is used to encrypt the message by the sender and then decrypt it by the receiver using the same key.

Therefore, if both the sender and receiver use the same key, it is referred to as symmetric cryptography, not asymmetric.

To know more about cryptography, click here https://brainly.com/question/88001

#SPJ11

When purchasing pre-cut, convenience pressure fresh produce items, the supplier must make sure that he or she preserves the appropriate pulp:
a. Count
b. Temperature
c. Yield
d. Color

Answers

The correct answer is B. When purchasing pre-cut, convenience-pressure fresh produce items, the supplier must ensure that the appropriate temperature is preserved.

Temperature is a measure of the average kinetic energy of the particles in a substance or system. It determines the hotness or coldness of an object or environment. The standard unit of temperature is the Kelvin (K), although Celsius (°C) and Fahrenheit (°F) scales are also commonly used.

Temperature affects the behavior and properties of matter. As temperature increases, the particles within a substance gain energy and move more vigorously, resulting in expansion and increased molecular activity. Conversely, as temperature decreases, the particles lose energy and move more slowly, leading to contraction and decreased molecular activity. The temperature has significant impacts on various aspects of our lives and the natural world. It influences weather patterns, affecting atmospheric conditions such as air pressure, humidity, and precipitation.

To know more about Temperature refer to-

brainly.com/question/11464844

#SPJ4

Other Questions
Consider the reaction below: A(aq) = B(aq) AG en = 4.00 kJ A1 M solution of A was heated at 73.3C for several hours. After some time the concentration of A was determined. Answer the following questions: a) What is the maximum amount of work (AG) from/for this reaction when [A] = 0.96 M? AG(kJ) = number (rtol=0.05, atol=11-08) b) What is the concentration of B when AG = -3.80 kJ? [B]m = number (rtol=0.03, atol=1e-08) c) Determine Q when AG = -8.00 kJ? number (rtol=0.03, atol=14-08) d) If the equilibrium mixture contains [A] = 0.39 M at 165.5 C. What is AH and AS of this reaction? AHkJ/mol number (rtol=0.02, atol=14-08) AS (J/mol.K) number (rtol=0.03, atol=1e-08) in which pattern of pipe configuration the dead end water lines require regular service and maintenance to ensure water quality? when the demand and supply of grapes both decrease at the same time, we can safely predict that the: using dwdm, a single fiber can carry between what two numbers of channels In Windows PowerShell, which key can be used to autocomplete a command? A. Ctrl B. Tab C. Alt D. Shift. B. Tab. Which of the following characteristics permits activated CD8 T cells to destroy any cell type harboring viable/replicating pathogens like viruses? A.The pathogen is located in extracellular spaces. B.CD8 T cells allow macrophages to kill intracellular pathogens. C.Pathogen-derived peptides bind MHC I molecules in vesicles found ubiquitously in most cell types. D.MHC II are expressed by most nucleated cells. E.MHC I are expressed by most nucleated cells. which type of white blood cell would you expect to be most common in a normal blood smear? 8. what do the bright colors indicate on animals in the tropical rain forest? assume that a competitive industry producing a normal good is in long-run equilibrium. if average consumer income decreases, which of the following changes will occur? responsesO short-run price short-run industry output movement firms increase increase entershort-run price short-run industry output movement firms increase increase enter , O short-run price short-run industry output movement firms increase decrease exitshort-run price short-run industry output movement firms increase decrease exit , O short-run price short-run industry output movement firms decrease increase exitshort-run price short-run industry output movement firms decrease increase exit , O short-run price short-run industry output movement firms decrease decrease entershort-run price short-run industry output movement firms decrease decrease enter , O short-run price short-run industry output movement firms decrease decrease exit how many butane molecules are in 22.4 liters of c4h10 gas at stp? 8) Svetlana is trading her car in on a new car. Thenew car costs $25,025. Her car is worth $6998.How much more money does she need to buythe new car?A) $18,028C) $18,027B) $18,017D) $17,927 2.3. Name and justify three (3) laws/legislation from the Constitution that protect citizens against the human right violation of safe healthy environment. (3+6=9) he nurse is performing a head-to-toe assessment of a client. Which of the following would be an example of information obtained during the review of the client's body systems?A) Wears dentures; denies problems with eating, chewing, and swallowing.B) States her father died of a heart attack at age 70.C) Uses over-the-counter antacid for occasional heartburn.D) Vaginal delivery of two children without complications. Which molecule contains Deoxyribose? In a regression model, the __________ exists when a predictor variable has a different partial effect on the outcome of another predictor variable.a. target effectb. interaction effectc. dummy effecte. predictor effect Find the formula for logistic growth using the given information. (use t as your variable.) the carrying capacity is 1500, the r value is 0.25 per year, and b=35. Can someone find the value of x for these 4 triangles? - Geometry In the figures below, each WHITE CELL represents an isolated patch of habitat. Which of the following statements about the two ecosystems is TRUE?A. Diversity will be higher in ecosystem two.B. N will be smaller in ecosystem two.C. Gene flow will be lower in ecosystem one.D. Genetic drift is more likely in ecosystem one. who was one of the first sociologists to point out the importance of culture in determining race? how can you determine the chipset if it is not written on the board