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Time sheets are collected in a batch, and the information is manually keyed into the system. This data is now stored on a magnetic disk. An editing program is run, which verifies whether the employee number is valid by checking it against an employee master file. The validity of the cost center assigned is also verified against a master file. Logical and clerical errors should also be tested, such as an employee working an unreasonable number of hours in a day/week. Records that are found to be in error are sent to an error file. These errors need to be investigated and corrected. The good records are stored in a data file. The next program takes the edited transaction records, one at a time, and updates any corresponding fields in the master files. Finally, a report program generates paychecks and management reports
Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa
Transfer pricing with third party consequences Transfer prices are used not only for internal record keeping and performance evaluation purposes. There are several settings
Saddle Point The saddle point in a payoff matrix is one which is the smallest value in its row and the largest value in its column. It is also termed as equilibrium point in th
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Project C would involve a current outlay of $50,000 on equipment and $15,000 on working capital. The investment in working capital would be increased to $21,000 at the end of the f
INVENTORY PLANNING AND CONTROL The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials
Explain Ranking of decision packages - zero base budgeting Ranking of decision packages: by ranking the decision packages a company will be able to weed out a lot of marginal e
production budget , how to do ?
Cash is a significant current asset for the operations of business. Cash is the fundamental input that maintains business running smoothly and continuously. In excess of cash and l
h. Production orders that had cost 450,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above
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