Crystal Bay Hospital's central supply tracks sterile items using a batch code system. When opening count shows 240 items, used items logged as 185, damaged items recorded as 15, but closing count reveals 25 items, what is the unaccounted variance?
Q: DJ Fiber Mill processes raw wool into high-quality cleaned wool. The raw wool costs $8 per pound,…
A: Explanation of Raw Wool: Raw wool is the unprocessed wool that comes directly from sheep before any…
Q: The T. M. Jones Corporation earned an operating profit margin of 11.5% based on sales of $9.8…
A: Concept of Operating Profit MarginOperating profit margin measures the efficiency of a company in…
Q: Give true answer the general accounting question
A: Step 1: Define Absorption CostingAbsorption costing is a method of costing in which all…
Q: Last year Kijel Company introduced a new product and sold 25,600 units of it at a price of $92 per…
A: Explanation of Sales RevenueSales revenue refers to the total income generated from selling goods or…
Q: The following total production costs solve this question financial accounting
A: To calculate the total fixed costs using the high-low method, we follow these steps: Given:October:…
Q: Need answer the financial accounting question
A: To find the interest rate earned on a loan, we use the formula for simple interest: Interest Rate =…
Q: ?
A: Explanation of Stakeholder Diversity:Stakeholder diversity refers to the variety of individuals or…
Q: Tina Company uses the following formula for annual overhead: $360,000 + $1.20 for each machine hour…
A: To calculate Tina Company's budgeted overhead for the month, use the provided formula and details:…
Q: Atlas manufacturing normal capacity solve this accounting questions
A: Step 1: Calculate total manufacturing overhead cost:Total manufacturing overhead cost = Variable…
Q: The interest charged by the bank, at the rate of 12%, on.... Can you please answer the financial…
A: Step 1: Given dataMaturity = 90 DaysInterest rate = 12% or 0.12Principal amount of Note = $75,000As…
Q: Can you please solve this accounting problem?
A: Option a: This option is correct because inventory should be reported at cost or market value,…
Q: General accounting
A: A. Inventory Conversion Period (also known as Days Inventory Outstanding)This represents the average…
Q: Owner3 equity for our company solve this accounting questions
A: To calculate the total assets, use the accounting equation: Assets = Liabilities + Owner's Equity…
Q: What is the adjusted cost of goods sold for the year? General accounting
A: Step 1: Define Adjusted Cost of Goods SoldA manufacturing company has an adjusted and unadjusted…
Q: ???
A: Explanation of Purchase Price: Purchase price is the total amount of money one company pays to…
Q: Hi expert provide correct answer general accounting
A: Step 1: Define Predetermined Overhead RateIn the production of finished goods, other than the direct…
Q: Financial data for Hunger Games Company for last year appear below: Hunger Games Company Statements…
A: Step 1:Margin is the net profit margin that is earned by the business firm. It is calculated by Net…
Q: Question No. 16 - Calculate the firm's asset turnover using Dupont analysis if it has a profit…
A: The formula for Return on Assets (ROA) using DuPont analysis is: ROA = Profit Margin × Asset…
Q: Do fast answer of this question solution
A: To determine the amount to include in the current liabilities section of Miller Corporation's…
Q: Hi expert please solve the correct option general accounting
A: Step 1: Gather InformationFrom the question:Purchase price of the bond = $1,060Coupon rate =…
Q: I don't need ai answer accounting questions
A: Step 1: Definition of Cash FlowCash flow refers to the net amount of cash being transferred into and…
Q: XYZ, Inc. Has a beta of 0.8 The yield... Please answer the accounting question
A: To solve the question, we will use the Capital Asset Pricing Model (CAPM) formula:re= rf + β ×…
Q: Tina Company uses the following formula for annual overhead: $360,000 + $1.20 for each machine hour…
A: To calculate Tina Company's budgeted overhead for the month, use the provided formula and details:…
Q: I won't this question general Accounting
A: Step 1: Define Entries for Notes ReceivablesNotes receivables is a written promissory note received…
Q: 5 PTS
A: Option a: This option is incorrect because standard variances require investigation. Even if it is a…
Q: How much is in common stock for this accounting question?
A: Step 1: Define Common StockCommon stock represents the portion of shareholders' equity that has been…
Q: 5 points
A: Explanation of Variance Analysis:Variance analysis is the process of comparing actual financial…
Q: Do fast answer of this general accounting question
A: Step 1: Let us first look at the information providedActual Overhead Cost = $420,000Standard…
Q: Financial accounting questions
A: To calculate the cash cycle, we use the formula: Cash Cycle = Inventory Period + Accounts Receivable…
Q: Please given correct answer general accounting
A: Step 1: Define Sales Variance"Variance" means deviation in actual and projected figures. Sales…
Q: Kindly help me Accounting question
A: Step 1: Definition of Cost of Goods Sold (COGS)The cost of goods sold (COGS) includes the costs…
Q: Stanley manufacturing uses process costing solve this accounting questions
A: To calculate the equivalent units for direct materials using the weighted average method, we need to…
Q: Find interest rates earned on this financial accounting question
A: Step 1:Since time is 1 year and no compounding interest information is given,so, we can use the…
Q: Financial Accounting
A: Step 1: Define Payback PeriodThe period or overall time that the investment will take to recoup the…
Q: Please need answer the following requirements for this accounting question
A: Step 1: Define RatioA ratio is a mathematical relationship between two quantities that are often…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Cost of Goods Sold (COGS)The cost of goods sold (COGS) represents the direct…
Q: D-Mart reported a net income of $19,500 for the previous year. At the beginning of the year, the…
A: To calculate the Return on Assets (ROA), use the formula: ROA = (Net Income / Average Total Assets)…
Q: Need help with this accounting questions
A: Step 1: Define Net IncomeNet income is used to represent the earnings of a business after expenses.…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Cash Conversion CycleThe cash conversion cycle (CCC) measures the time it…
Q: Financial Accounting
A: Step 1: Define Predetermined Overhead Allocation RateThe predetermined overhead allocation rate is…
Q: Olmsted company has the following solve this accounting questions
A: Step 1: Formula Stockholders' Equity = Common stock + Retained earnings - Treasury stockDeferred…
Q: Need help with this financial accounting question
A: To calculate the adjusting entry for interest accrued on the note payable, follow these steps: Step…
Q: Question: The following information was taken from the accounting records of Reliable Tool…
A: Step 1:First calculate the total manufacturing cost: Total manufacturing cost = Direct material +…
Q: Assume the required reserve ratio solve this general accounting question
A: Step 1: Definition of money multiplierThe amount of money a bank can create is determined by the…
Q: I need this question answer general Accounting
A: Step 1: Define High Low MethodIf the cost related to the highest activity period and the lowest…
Q: Need help with this accounting questions
A: Step 1: Definition of Total Debt RatioThe total debt ratio measures the proportion of a company's…
Q: I need answer of this question solution general accounting
A: Step 1: Definition of Unit Manufacturing Cost under Absorption CostingUnder absorption costing, the…
Q: General Accounting Question get correct answer
A: Step 1: Define Predetermined Overhead RateFirms usually estimate the predetermined or budgeted…
Q: Please provide correct answer
A: Data Given:Cost: $3,440,000 (not directly relevant here).Carrying Amount: $1,720,000.Expected Future…
Q: Liability?
A: Explanation of Lease LiabilityLease liability represents the obligation of the lessee (Hela Company)…
Crystal Bay: what us the unaccounted variance?(ACCOUNTING) 6 MARK


Step by step
Solved in 2 steps

- A production line operation is designed to fill cartons with laundry detergent to a mean weight of 32 ounces. A sample of cartons is periodically selected and weighed to determine whether underfilling or overfilling is occurring. If the sample data lead to a conclusion of underfilling or overfilling, the production line will be shut down and adjusted to obtain proper filling. a. Formulate the null and alternative hypotheses that will help in deciding whether to shut down and adjust the production line. b. Comment on the conclusion and the decision when H0 cannot be rejected. c. Comment on the conclusion and the decision when H0 can be rejected.An employee in the receiving department keyed in a shipment from a remote terminal and inadvertently omitted the purchase order number. The best systems control to detect this error would be aa. batch total.b. completeness test.c. sequence check.d. reasonableness test.e. compatibility test.Pareto chart and cost of quality report for a service company The administrator of Liberty Hospital has been asked to perform an activity analysis of the emergency room (ER). The ER activities include cost of quality and other patient care activities. The lab tests and transportation are hospital services external to the ER for determining external failure costs. The result of the activity analysis is summarized as follows: Instructions 1. Prepare a Pareto chart of the ER activities. 2. Classify the activities into prevention, appraisal, internal failure, external failure, and other patient care activities. Classify the activities into value-added and non-value-added activities. 3. Use the activity cost information to determine the percentages of total ER costs that are prevention, appraisal, internal failure, external failure, and other patient care activities. 4. Determine the percentages of the total ER costs that are value-added and non-value-added. 5. Interpret the information.
- Josh OShea is the manager of the Cardiovascular/Respiratory Laboratory. This department is responsible for measuring blood gases, performing respiratory treatments, and distributing automated IV equipment. As a manager, Josh hires and trains personnel, prepares his departmental budget, and maintains the personnel schedule. Josh recommends equipment needs for the department, but he may be overruled in the acquisition process. Josh and his departmental personnel are paid for the professional credentials they hold, earn, and maintain and are reimbursed by the hospital for any approved training or professional credentials they acquire. Josh must use the equipment, reagents, and supplies provided to him from central purchasing. Based on this information, what incentives do you see as those that will motivate Josh as part of the hospital team, and why? Which incentives will be demotivating, and why?The following is a description of the conversion cycle of Central Production Limited:The conversion cycle of the company is triggered by a report from the warehouse. When the quantity of an inventory item falls below a pre-set minimum level, the warehouse manager sends an online inventory status report to production department advising them to schedule a production batch run for the item.Upon receipt of the report, the production clerk assesses the digital bill of materials and the route sheet files for the item to be produced and adds the production details to the online production schedule.The system automatically adds a record to the open work order file and sends an online work order to the work centre supervisor’s computer and to the accounting clerk’s computer.The work centre supervisor receives the work order from his computer andprint hard-copy move tickets and materials requisitions for each production process. Production employees take the materials requisitions to store…The following is a description of the conversion cycle of Central Production Limited:The conversion cycle of the company is triggered by a report from the warehouse. When the quantity of an inventory item falls below a pre-set minimum level, the warehouse manager sends an online inventory status report to production department advising them to schedule a production batch run for the item.Upon receipt of the report, the production clerk assesses the digital bill of materials and the route sheet files for the item to be produced and adds the production details to the online production schedule.The system automatically adds a record to the open work order file and sends an online work order to the work centre supervisor’s computer and to the accounting clerk’s computer.The work centre supervisor receives the work order from his computer and print hard-copy move tickets and materials requisitions for each production process. Production employees take the materials requisitions to store…
- Suppose that the average waiting time for a patient at a physicians office is just over 29 minutes. To address the issue of long patient wait times, some physicians offices are using wait-tracking systems to notify patients of expected wait times. Patients can adjust their arrival times based on this information and spend less time in waiting rooms. The following data show wait times (in minutes) for a sample of patients at offices that do not have a wait-tracking system and wait times for a sample of patients at offices with such systems. a. What are the mean and median patient wait times for offices with a wait-tracking system? What are the mean and median patient wait times for offices without a wait-tracking system? b. What are the variance and standard deviation of patient wait times for offices with a wait-tracking system? What are the variance and standard deviation of patient wait times for visits to offices without a wait tracking system? c. Create a box plot for patient wait times for offices without a wait-tracking system. d. Create a box plot for patient wait times for offices with a wait-tracking system. e. Do offices with a wait-tracking system have shorter patient wait times than offices without a wait-tracking system? Explain.The following are audit procedures from different transaction cycles:1. Examine duplicate copy of shipping documents for evidence that quantities wereverified before shipment.2. Select a sample of payroll checks and agree hours to employee time records.3. Use audit software to foot and cross-foot the sales journal and trace the balance tothe general ledger.4. Examine voucher packages and related vendor invoices for evidence of approval ofaccount classification.5. Trace a sample of shipping documents to entry in the sales journal.6. Examine a sample of warehouse removal slips for signature of authorized official.7. Select a sample of entries in the cash receipts journal and trace to posting in individualcustomer accounts receivable records.8. Select a sample of sales invoices and agree prices to the approved price list.a. For each audit procedure, identify whether it is a test of control or a substantive testof transactions.b. For each audit procedure, identify the transaction-related…Following are audit procedures commonlyperformed in the inventory and warehousing cycle for a manufacturing company:1. Read the client’s physical inventory instructions and observe whether they are beingfollowed by those responsible for counting the inventory.2. Account for a sequence of inventory tags and trace each tag to the physical inventoryto make sure it actually exists.3. Compare the client’s count of physical inventory at an interim date with the perpetualinventory master file.4. Trace the auditor’s test counts recorded in the audit files to the final inventorycompilation and compare the tag number, description, and quantity.5. Compare the unit price on the final inventory summary with vendors’ invoices.6. Account for a sequence of raw material requisitions and examine each requisitionfor an authorized approval.7. Trace the recorded additions on the finished goods perpetual inventory master fileto the records for completed production.a. Identify whether each of the procedures…
- Aurora Radiological Services is a health care clinic that provides radiological imaging services (such as MRIs, X-rays, and CAT scans) to patients. It is part of Front Range Medical Systems that operates clinics throughout the state of Colorado. a. What type of key performance indicators and other information would be appropriate to display on a data dashboard to assist the Aurora clinics manager in making daily staffing decisions for the clinic? b. What type of key performance indicators and other information would be appropriate to display on a data dashboard for the CEO of Front Range Medical Systems who oversees the operation of multiple radiological imaging clinics?The following two tests were carried out on the accounts payable at Gardens Nursing Home: 1: A number of suppliers were selected from the list of trade creditors at year-end and balances traced to supplier invoices and goods received notes to ensure goods were received prior to the year-end. For two creditors out of 15 tested the balance was only marginally overstated. Audit conclusion: Accepted as no material errors located. 2: Selected a number of suppliers’ invoices and checked that the pricing and discount terms have been reviewed and authorized by the purchase manager. Three out of 20 invoices tested had not been authorized and incorrect discounts were recorded for these invoices. A follow-up of the three samples with deviations did not highlight a pattern or specific reason for the errors. Audit conclusion: Accepted as the errors in discounts claimed were immaterial. Required: For each of the test results for Gardens Nursing Home: (a) Identify whether this is a test…Match the following terms and descriptions. 1. Audit planning 2. Preventive Controls 3. System Evaluation and Selection 4. Recovery Operations Centre (ROC) 5. The Sarbanes/Oxley Act Section 404 Identify optimal solution from alternatives. Involves feasibility study and cost-benefit analysis steps. In the event of a major disaster, a subscriber can occupy the premises and, within a few hours, resume processing critical applications. The auditor's objective is to obtain sufficient information about the firm to plan the other phases of the audit. Requires the management of public companies to assess the effectiveness of their organization's internal controls Passive techniques designed to reduce the frequency of occurrence of undesirable events.











