Accounting Information Systems; Quickbooks 2015: A Complete Course (without Software); Access Card For Intuit Quickbooks 2015 (13th Edition)
13th Edition
ISBN: 9780134404080
Author: Marshall B. Romney, Paul J. Steinbart
Publisher: PEARSON
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Question
Chapter 15, Problem 1CQ
To determine
Out of given options, explain which process of HRM/payroll cycle is traditionally used by accountants.
Expert Solution & Answer
Answer to Problem 1CQ
Option b
Explanation of Solution
Payroll system records all the transactions that include the payment to suppliers and employees of the organization.
Traditionally, accountants’ involved payroll system which is being part of the HRM/payroll system. Others such as hiring and training were handled by HR department. Performance evaluation were handled by the supervisors.
Conclusion
Thus, option b is correct answer and other options are incorrect.
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Students have asked these similar questions
Caldwell Industries manufactures a variety of products. Last year, the company's variable costing net operating income was $78,500, and ending inventory increased by 1,200 units. Fixed manufacturing overhead cost per unit was $4. Determine the absorption costing net operating income for last year.
Summerford Company manufactures part G for use in its production cycle. The full cost per unit for each of 10,000 units of part G manufactured per year by Summerford are as follows:
Direct materials
$ 6
Direct labor
11
Variable overhead
7
Fixed overhead
10
$ 34
Verona Company has offered to sell Summerford 10,000 units of part G for $25 per unit. If Summerford accepts Verona's offer, the released facilities could be used to save $45,000 in relevant costs in the manufacture of part H. In addition, $7 per unit of the fixed overhead applied to part G would be eliminated. Based solely on a short-term financial analysis, which alternative is more desirable and by what amount?
Alternative
Amount
A)
Manufacture
$ 80,000
B)
Manufacture
$ 85,000
C)
Buy
$ 105,000
D)
Buy
$ 135,000
E)
Buy
$ 80,000
What is the estimated fixed cost element of power costs?
Chapter 15 Solutions
Accounting Information Systems; Quickbooks 2015: A Complete Course (without Software); Access Card For Intuit Quickbooks 2015 (13th Edition)
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