Entries by mary WAMBUGU

Olympic Products Inc. manufactures and distributes barbecue grills. Olympic normal sales units per month is: 1200 and normal sales price per unit is: $140

August 28, 2019 in /by

Problem 3 (10 points) Olympic Products Inc. manufactures and distributes barbecue grills. Olympic normal sales units per month is: 1200 and normal sales price per unit is: $140 The material cost per grill is: $47 and the direct labor per gill is: $20 The variable overhead cost per grill is: $15 and the fixed overhead […]

 

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X-Ray Manufacturing has the following revenues and costs:($)12/31/2015Sales4,373,000

August 28, 2019 in /by

Problem 1 (20 points) X-Ray Manufacturing has the following revenues and costs: ($) 12/31/2015 Sales      4,373,000 Fixed overhead      1,024,000 Direct labor         460,000 Direct materials         615,000 Selling expenses         365,000 Administrative expenses          485,000 Variable overhead          225,000 Interest expense          130,000 Income tax         375,000 Direction: Prepare a contribution margin income […]

 

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1) Joe Zebrowski was an internal auditor for a retail drug chain. He detected a computer programmer who worked on the firm’s accounts payable system stealing from the firm.

August 28, 2019 in /by

Questions Joe Zebrowski was an internal auditor for a retail drug chain.  He detected a computer programmer who worked on the firm’s accounts payable system stealing from the firm.  The programmer had miss-programmed the portion of the program to truncate all cash discounts instead of rounding them.  That is, when the firm paid a bill […]

 

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Jake Jones is auditing anending inventory balance. He obtained acomplete listing of every item that made up the ending inventory balance fromthe auditee’s subsidiary inventory ledger.

August 28, 2019 in /by

1)            Jake Jones is auditing anending inventory balance.  He obtained acomplete listing of every item that made up the ending inventory balance fromthe auditee’s subsidiary inventory ledger. The listing included the number of items is inventory, the cost per unitassigned to each item, and the extended cost (cost times quantity).  At the same time that the auditee […]

 

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