Question FiveThe Al-said Furniture Company is manufacturing officefurniture. The process of manufacturing is started by purchasingRaw Material (Mainly Wood) from suppliers, PurchasedMaterial are warehoused till they transfer to factory respondingto manufacturing needs, while labor and overhead are addedthrough production. You were assigned to audit purchasingcycle, first step, you should assess business risks thenunderstand internal control. The policy of purchasing rawmaterial is based on equal quantity each month regardless ofneeds, Purchased Material warehoused in underground floorwithout fire alarm and in bad situation. Transfer raw material tofactory is based on daily needs by receiving by phone fromproduction supervisor.Required: As an auditor of this company:1. Assess business risk of this company regarding to nature ofused raw material and nature of production (Low,Moderate, High, and Very High) then clarify your answer?2. Assess control risk of purchasing and warehousing cycle(Low, Moderate, High, and Very High) then clarify youranswer? Suggest a suitable internal control system forpurchasing and warehousing cycle through transferringmaterial to factory? Determine the required documents?

As an auditor of the Al-Said Furniture Company, it is important to assess the business and control…

Answered: Question Five The Al-said Furniture…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Required information Skip to question George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company’s products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Week Units Total Etching Cost 1 9 $ 21 2 12 25 3 13 30 4 9 20 5 11 25 6 18 34 72 $ 155 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bX.
__________________________________________________________________________Question No. 1A) Prepare the total budgeted sales in dollars for the quarter ended March 31, 2021 usingthe following data.Feb Mar AprQuantity of budgeted units for salesJan 25000 Feb 55000 Mar 35000 Apr 40000 Expected selling prices of each unitJan $12 Feb $15 Mar $20 Apr $22 B) What is Budget & how does it helps management in managing business?
Question1: Diversification and Performance Note: Please explain clearly and give example
Question 7 of 11 What methodology would a company use to compare performance to date in a year with performance the previous year? Select an answer: operating cost methodology revenue trajectory methodology variable cost methodology exit methodology
QUESTION 5:What is demand forecasting and why it’s vital to the company’s operations?
Q1) Describe the company's inventory management system?
question 6 In a Q system, the demand rate for strawberry ice cream is normally distributed, with an average of 295pints per week.The lead time is 8 weeks. The standard deviation of weekly demand is 10 pints. Refer to the standard normal table1 for z-values. a. The standard deviation of demand during the 8-weeklead time is ______pints. (Enter your response rounded to the nearest whole number.) b. The average demand during the 8-week lead time is_____ pints. (Enter your response as an integer.) c. The reorder point that results in a cycle-service level of 92percent is _______ pints. (Enter your response rounded to the nearest whole number.) 1: Data Table The table below shows the total area under the normal curve for a point that is Z standard deviations to the right of the mean. Z 0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 0.0 0.5000 0.5040 0.5080 0.5120 0.5160 0.5199 0.5239 0.5279 0.5319 0.5359 0.1 0.5398…
Question 15 Discontinuity created by new technology a.shows the amount of effort required to measure new technology B.shows the gap between the old technology and new technology C.shows the amount of capital required to implement new technology D.shows the amount of effort required to use old technology QUESITON 16 Quantity discount model is an inventory management model where A.The cost per unit decreases as production quantities increase B.Used to determine the optimal order quantity C.The price per unit decreases as order quantities decrease D.Used to determine the economic order quantity Question 17 In strategy formulation, which of the following processes answers the question "How will the firm compete"? A.Deploying the strategy B. Defining the primary tasks C.Positioning the frm D.Determining the order winners and order qualifers
Question 18 The study of operations management is A.Design, operation and improvement of productive systems B.A sequence of activities across organizations that are involved in producing and delivering a product or service C.A series of activities from suppliers to customers that add value to a product or service D.The identifcation of and elimination of activities from suppliers to customers that do not add value Question 21 TRUE OR FALSE Businesses that use Just in Time (JlT) purchasing consider purchase price to be the only cost Question 25 Supply chain management is the study of A.Material flows, information flow and financial flows across organisations B.Material flows, information flow and fnancial flows within organisations C.Suppliers involved in getting goods or services to market D.The measure of costs across organisations to determine the customer selling price
Question1: Diversification and Performance Note: Please explain clearly and give example( 200-250 words)
With respect to location-based services, which of the following terms describes a process of converting a non-revenue-generating product into a source of income? Question 10 options: Personalize Incentivize Subsidize Monetize
Question 8 of 11 XYZ Corp is projecting its operating expenses. Where should XYZ anticipate most of its variable costs will be located? Select an answer: in any changes to the product mix in revenues increases in employee salaries in the cost of goods sold

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