Jorge Rivera is the purchasing agent for a large warehouse. He doesn't know anything about forklifts and so has not been asked by the warehouse manager to participate in the purchase selection process for six new replacement forklifts. Once the decision has been made, however, Jorge will draw up the purchase order. In this case, Jorge is most likely simply acting as a/an/the: A influencer decider C buyer D user B
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![Jorge Rivera is the purchasing agent for a large
warehouse. He doesn't know anything about forklifts
and so has not been asked by the warehouse
manager to participate in the purchase selection
process for six new replacement forklifts. Once the
decision has been made, however, Jorge will draw up
the purchase order. In this case, Jorge is most likely
simply acting as a/an/the:
A
influencer
decider
C
buyer
D
user
B](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F63bdbb91-337f-4c2b-8150-84d43c7b8ac6%2F72045067-619e-4afb-a363-45e0b3b21e87%2Fjca3ovn.jpeg&w=3840&q=75)
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- You are an accounting student at Berkeley College and will not graduate for another year. But because of your excellent grades so far, you have been able to land a job in the purchasing department of a retailer. One of the purchasing agents in your company is negotiating for the receipt of a very large order of uninsured goods from a supplier. The purchasing agent is able to get a better deal on the goods if they are shipped FOB shipping point rather than FOB destination. The agent doesn’t know the difference between these two concepts. He also doesn’t understand why choosing one over the other should make any difference to the company. As a student of accounting at Berkeley College, you know well the difference between these 2 concepts and you know why one would be a better choice over the other in the case of uninsured goods. Please explain these two concepts in this discussion and tell the purchasing agent which shipping method is preferable and why.Fraud in Purchasing. Consider the following scenario:Adam worked for the local hardware store as an outside sales representative. His job wasto visit local companies and contractors in an attempt to identify their needs for tools andmaterials and provide a bid to supply those items. When a local contractor accepted a newjob, Adam would get its material requirements, come back to the store, and prepare and submit a proposal for the items. After some initial success with Big Builder, a large contractor,the number of jobs awarded to Adam had decreased dramatically.One day, Adam was back at the store after losing a bid to Big Builder when he noticedsomeone in the store purchasing the exact items and quantities that were in the specificationfor that bid. The combination of items was unusual, and it would be an unlikely coincidencefor someone else to want such a combination in that exact quantity. The customer paid theretail price for the merchandise and left.Adam decided to contact Big…Ngai Nhung is the sales manager at Hung Technologies. At lunch with the company CEO, Ngai proudly announced that he had received a __ from a client. The client had just requested a large quantity of components from Hung. A. purchase order B. purchase requisition C. back order D. voucher E. bill of lading
- Data Table Annual demand for denim cloth 40,700 yards Ordering cost per purchase order $185 Carrying cost per year 10% of purchase costs Safety-stock requirements None Cost of denim cloth $11 per yard The purchasing lead time is 2 weeks. The Fabric World is open 220 days a year (44 weeks for 5 days a week). Print DoneHardcase Luggage Shop is a small retail establishment located in a large shopping mall. This shop has implemented the following procedures regarding inventory items:a. Because the shop carries mostly high-quality, designer luggage, all inventory items are tagged with a control device that activates an alarm if a tagged item is removed from the store.b. Because the display area of the store is limited, only a sample of each piece of luggage is kept on the selling floor. Whenever a customer selects a piece of luggage, the salesclerk gets the appropriate piece from the store’s stockroom. Because all salesclerks need access to the stockroom, it is not locked. The stockroom is adjacent to the break room used by all mall employees.c. Whenever Hardcase Luggage Shop receives a shipment of new inventory, the items are taken directly to the stockroom. Hardcase’s accountant uses the vendor’s invoice to record the amount of inventory received.State whether each of these procedures is appropriate…An exporter got an order of face masks based on L/C. By preparing the cargo, he found the packing material modle A were run out. Then he used modle A+ for the rest cargo. The model A+ had better quality standard and same function. However, the opening bank refused payment later by arguing that the models of packing material shown on the documents was not in accordance with that in the L/C. 1. Is it reasonable to refuse the payment ? 2. What should the exporter do when he prepared the cargo?
- The Every Day Fabric sells fabrics to a wide range of industrial and consumer users. One of the products it carries is denim cloth, used in the manufacture of jeans and carrying bags. The supplier for the denim cloth pays all incoming freight. No incoming inspection of the denim is necessary because the supplier has a track record of delivering high-quality merchandise. The purchasing officer of the Every Day Fabric has collected the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate the EOQ for denim cloth. Begin by selecting the formula used to calculate EOQ. (D = Demand in units for one year, P = Ordering cost per purchase order, C = Carrying cost of one unit in stock, Q = Any order quantity.) %3D %3D %3D (Round the denominator to the nearest cent.) Data Table The EOQ for denim cloth is | yards. Requirement 2. Calculate the number of orders that will be placed each year. Annual demand for denim cloth 20,000 yards…The Brenly Paint Company, your client, manufactures paint. The company’s president, Mr. Brenly, decided toopen a retail store to sell paint as well as wallpaper and other items that would be purchased from other suppliers.He has asked you for information about the retail method of estimating inventories at the retail store.Required:Prepare a report to the president explaining the retail method of estimating inventories.When Mookie The Beagle Concierge started stocking Mookie The Beagle Concierge branded inventory. Cy rented a centrally located storage locker with digital access. This permits Mookie The Beagle Concierge contractors to access the storage locker for deliveries to customers. Cy has digital surveillance and from his smartphone can electronically permit the contractors access when they arrive at the storage locker. In addition, all inventory has an RFID chip that is automatically read when the contractor passes the storage locker door to exit. This feature improves inventory control in that Cy is immediately notified on his smartphone when any inventory is removed from the storage locker. The storage locker streamlines operations. The only issue is that Cy overlooked recording the storage locker rental in QBO. Complete the following adjusting entry for Mookie The Beagle Concierge. In anticipation of stocking Mookie The Beagle Concierge branded inventory. Cy charged $864 for 6 months…
- Assume that you are preparing for a second interview with a manufacturing company. The company is impressed with your credentials, but it has several qualified applicants. You anticipate that in this second interview, you must show what you offer over other candidates. You learn the company is not satisfied with the timeliness of its information and its inventory management. The company manufactures custom-order holiday decorations and display items. To show your abilities, you plan to recommend that the company use a job order accounting system. Required In preparation for the interview, prepare notes outlining the following: 1. Your recommendation and why it is suitable for this company. 2. A general description of the documents that the proposed system requires. 3. How the documents in part 2 facilitate the operation of the job order accounting system.Saurez Company, your client, manufactures paint. The company’s president, Maria Saurez, has decided to open a retail store to sell Saurez paint as well as wallpaper and other supplies that would be purchased from other suppliers. She has asked you for information about the conventional retail method of pricing inventories at the retail store. Instructions Prepare a report to the president explaining the retail method of pricing inventories. Your report should include the following points. a. Description and accounting features of the method. b. The conditions that may distort the results under the method. c. A comparison of the advantages of using the retail method with those of using cost methods of inventory pricing. d. The accounting theory underlying the treatment of net markdowns and net markups under the method.K Cannon, Inc., is a manufacturer of portable CD players. The company purchases raw materials such as plastics and computer chips for its conversion cycle. The following describes K Cannon’s purchases and payments procedures. John, the purchasing department clerk, monitors raw materials inventory levels and prepares a purchase requisition when purchases are necessary. These are sent to the purchasing agent, who prepares six copies of a purchase order. Two purchase orders are sent directly to the vendor. One is placed in an open purchase order file in the purchasing department, and one is used to post to the purchases journal. Each week the purchasing department clerk prepares a journal voucher from the purchases journal and sends it to the general ledger department for posting. The AP and the receiving departments also each receive a copy of the purchase order, which they file temporarily. Upon receiving the raw materials, the receiving department clerk creates five copies of the…
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