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?
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- Englert Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Type of Admission Standard Time to CompleteAdmission Record Unscheduled admission 30 min. Scheduled admission 15 min. The unscheduled admission took longer because name, address, and insurance information needed to be determined and verified at the time of admission. Information was collected on scheduled admissions prior to the admissions, which was less time-consuming. The Admissions Department employs four full-time people (40 productive hours per week, with no overtime) at $15 per hour. For the most recent week, the department handled 140 unscheduled and 350 scheduled admissions. a. How much was actually spent on labor for the week?$fill in the blank 1 b. What are the standard hours for the actual volume for the week (round to one decimal place)?fill in the blank 2 hours c. Calculate the time…Patients use a self-serve kiosk to confirm their arrival at an outpatient clinic. They then proceed to the receptionist to update any personal information. After that, a nurse will record the patient's vital signs. A physician will then consult with the patient and prescribe appropriate treatments. The patient will then visit the checkout station to settle payment and schedule the next appointment, if needed. Processing times and other information on the process are presented in the table below: Process Resource Self-service Check in Update information Receptionist Nurse Physician Checkout Record vital signs Treat patient Collect payment Processing time (minutes per patient) 1 5 10 30 10 Number of Wage rate workers (Sper hour) n/a What is the cost of direct labor per patient if demand is unlimited? n/a 2 3 5 2 15 30 100 8 15The following are nine situations, each containing two meansof accumulating evidence:1. Confirm receivables with consumers versus confirming accounts receivable withbusiness organizations.2. Physically examine 3-inch steel plates versus examining electronic parts.3. Examine duplicate sales invoices when several competent people are checking eachother’s work versus examining documents prepared by a competent person on aone-person staff.4. Physically examine inventory of parts for the number of units on hand versusexamining them for the likelihood of inventory being obsolete.5. Discuss the likelihood and amount of loss in a lawsuit against the client with client’sin-house legal counsel versus discussion with the CPA firm’s own legal counsel.6. Confirm the oil and gas reserves with a geologist specializing in oil and gas versusconfirming a bank balance.7. Confirm a bank balance versus examining the client’s bank statements.8. Physically count the client’s inventory held by an independent…
- American Labs American Labs provides lab testing services for a variety of clients, mostly doctors’ offices and other small medical businesses throughout the Midwest. Clients send test vials containing blood samples or other test requests to American Labs’ testing center, where the requested tests are performed, after which the results are sent back to the client via fax. Jim Larsen, the head technician in the testing facility at American Labs, has approached you for help with the company’s outdated inventory tracking system. Business has picked up recently, and the turnaround for clients’ requested tests has been lengthening. To make matters worse, the lab technicians are seldom able to give customers an answer regarding where their requests fall in the testing queue or how long they can expect the turnaround to be. Much of this stems from an old, mostly paper-based inventory tracking system, which includes handwritten labels put on each of the incoming test vials and a logbook with…determine the level of measurement (nominal, ordinal, interval, ratio) for each of the variables listed, and briefly state how you were able to identify the level of measurement being used. Please note: each level of measurement may be used more than once, or not at all. The temperature (in degrees Fahrenheit) of patient rooms in an extended care facilityThe following are audit procedures in the sales and collectioncycle:1. Add the columns on the aged trial balance and compare the total with the generalledger.2. Examine a sample of shipping documents to determine whether each has a salesinvoice number included on it.3. Examine a sample of customer orders and see if each has a credit authorization.4. Compare the date on a sample of shipping documents a few days before and afterthe balance sheet date with related sales journal transactions.5. Discuss with the sales manager whether any sales allowances have been grantedafter the balance sheet date that may apply to the current period.6. Observe whether the controller makes an independent comparison of the total inthe general ledger with the trial balance of accounts receivable.7. Compare the date on a sample of shipping documents throughout the year withrelated duplicate sales invoices and the accounts receivable master file.8. Compute the ratio of allowance for uncollectible accounts…
- The sales department receives the unstandardised sales order since customer orders are mailed, e-mailed or faxed to the sales department. The sales clerk first converts the unstandardised sales order into the standardised sales order. For this purpose, the sales representative requests the missing information, if any. When the order is received, the sales clerk checks the customer’s creditworthiness of the customer from his computer terminal. Three years ago, the sales clerk requested the accounting department to provide him with a list of customers whose account receivables are written off. The sales clerk is still using this information to check the creditworthiness of the customers. The sales clerk is using the same procedure to check the creditworthiness of the new customers.The customer’s order is rejected if the customer’s credit is not verified. The sales order processing is started after the credit verification. In particular, the sales clerk records the approved standardised…The sales department receives the unstandardised sales order since customer orders are mailed, e-mailed or faxed to the sales department. The sales clerk first converts the unstandardised sales order into the standardised sales order. For this purpose, the sales representative requests the missing information, if any. When the order is received, the sales clerk checks the customer’s creditworthiness of the customer from his computer terminal. Three years ago, the sales clerk requested the accounting department to provide him with a list of customers whose account receivables are written off. The sales clerk is still using this information to check the creditworthiness of the customers. The sales clerk is using the same procedure to check the creditworthiness of the new customers.The customer’s order is rejected if the customer’s credit is not verified. The sales order processing is started after the credit verification. In particular, the sales clerk records the approved standardised…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.
- Case StudyCarosel Limited is a specialty motor vehicle parts supplier, procuring parts from a largenumber of suppliers. As part of the interim audit work four weeks prior to the companyyear’s end, you are testing the procurement/purchases systems, attending the inventory countand examining the sales and cash receipts.Purchasing/Procurement System When the quantity of a specific part falls below re-order level, an e-mail is sent to theprocurement department detailing the part required and the quantity to order. Partsinventory is monitored by the store’s manager with a copy of the e-mail filed on thestore manager's computer. Procurement department staff check the e-mail, allocate the order to an authorisedsupplier and send the order to that supplier using Electronic Data Interchange (EDI).The order is identified by a unique order number with a copy of the EDI order filed inthe order database by the computer system. When goods are received at Carosel, the stores clerk confirms that the…Do not give answer in image12-12. Draw a document flowchart to depict each of the following situations.a. An individual from the marketing departmentof a wholesale company prepares fivecopies of a sales invoice, and each copy issent to a different department.b. The individual invoices from credit salesmust temporarily be stored until they canbe matched against customer payments ata later date.c. A batch control tape is prepared along witha set of transactions to ensure completenessof the data.d. The source document data found onemployee application forms are used asinput to create new employee records ona computer master file.e. Delinquent credit customers are sent asmany as four different inquiry letters beforetheir accounts are turned over to a collectionagency.f. Physical goods are shipped back to the supplierif they are found to be damaged uponarrival at the receiving warehouse.g. The data found on employee time cards arekeyed onto a hard disk before they are processedby a computer.h. The data found on…
