Business Activities and Business Process Model • There are several business activities that form part of the Business activities and processes on a day to day basis. These outcomes of these processes combined formulate the sum total of the results of operations of the business. • Breaking down the activities in the entire process, understanding the costs and nuances of each process and breaking down each part of the process to understand how the process works as a whole, are activities that form part of the Business Process Model. • One such business process is the Order to Cash Cycle. It contains several business activities beginning when a customer enters the organization up until when he leaves after successfully placing and receiving an order. • Some of the activities are contributory to costs and profits and some are non-monetary items. However the non-monetary items also have a contribution to the bottom line as they indirectly influence the revenues and profits. • Examples of Value Added activities are: Process of Preparation of Order, Packaging and Delivery of goods etc. Examples of Non Value Added activities are: Waiting time to process customers’ orders To Determine: Methodology for understanding the Business activities and processes that form part of a company (For Example in a fast food industry as part of the Order to Cash cycle.)

Question

Want to see the full answer?

Answer 1

Question

Chapter 20, Problem 3BTN

To determine

Introduction:

Business Activities and Business Process Model

• There are several business activities that form part of the Business activities and processes on a day to day basis. These outcomes of these processes combined formulate the sum total of the results of operations of the business.

• Breaking down the activities in the entire process, understanding the costs and nuances of each process and breaking down each part of the process to understand how the process works as a whole, are activities that form part of the Business Process Model.

• One such business process is the Order to Cash Cycle. It contains several business activities beginning when a customer enters the organization up until when he leaves after successfully placing and receiving an order.

• Some of the activities are contributory to costs and profits and some are non-monetary items. However the non-monetary items also have a contribution to the bottom line as they indirectly influence the revenues and profits.

• Examples of Value Added activities are: Process of Preparation of Order, Packaging and Delivery of goods etc. Examples of Non Value Added activities are: Waiting time to process customers’ orders

To Determine:

Methodology for understanding the Business activities and processes that form part of a company (For Example in a fast food industry as part of the Order to Cash cycle.)

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

ayco Inc. started its operations in 2022. Its sales during 2022, all on account, totalled $700,000. The company collected $500,000 in cash from customers during the year and wrote off $8,000 in uncollectible accounts. The company set up an allowance for doubtful accounts at December 31, 2022, its fiscal year-end, and determined the account balance to be $14,000. The unadjusted balances of selected accounts at December 31, 2023 are as follows: Accounts receivable $ 300,000 Allowance for doubtful accounts (debit) 10,000 Sales revenue (including 80 percent in sales on account) 800,000 Aging of the accounts receivable on December 31, 2023, resulted in an estimate of $11,000 in potentially uncollectible accounts. Required: 1. Prepare the journal entries to record all the transactions during 2022 and post them to appropriate T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)…

Calculate the sample size based on the specifications in Buhi's contract. Make sure it is within budget, reasonable to obtain, and that you use appropriate inputs relative to market research best practices. Use the calculator to adjust the sample size statement. Use the agreed-upon sample size in Buhi's contract: 996. In your secondary research, find the target population size (an estimate of those in the United States looking to purchase luggage in the category in the next two years). You will use this target population size for each sample size estimate. Adjust the provided sample size calculator inputs to find the rest of the figures that get you to the agreed-upon sample size. The caveats from Buhi are that you must: Use the market research standard for your confidence level. Use a confidence interval that is better than the market research standard for your confidence interval.

The partnership of Keenan and Kludlow paid the following wages during this year: Line Item Description Amount M. Keenan (partner) $108,000 S. Kludlow (partner) 96,000 N. Perry (supervisor) 54,700 T. Lee (factory worker) 35,100 R. Rolf (factory worker) 27,200 D. Broch (factory worker) 6,300 S. Ruiz (bookkeeper) 26,000 C. Rudolph (maintenance) 5,200 In addition, the partnership owed $250 to Rudolph for work he performed during December. However, payment for this work will not be made until January of the following year. The state unemployment tax rate for the company is 2.95% on the first $9,000 of each employee's earnings. Compute the following: ound your answers to the nearest cent. a. Net FUTA tax for the partnership for this year b. SUTA tax for this year