Greg Norman is the auditor in charge of the Rogers Pharmaceutical Company audit. In assessing the internal controls for the company, Greg finds that the company bills customers and receives payments at three offices in three separate states using three different and incompatible software systems for tracking payments. Rogers’s terms of sale varies with the customer and varies from 30 days to 90 days. Open invoices are aged based on when they were booked to the receivables, but cash, chargebacks, or rebates are aged based on when they were applied to the account. Thus, a credit could be posted to the customer’s account when it was received, but the related invoice(s) remains open as a receivable and continues to age. Chargebacks are significant and linked to batch of product rather than invoice. Most similar companies have credit limits or credit checks but Rogers’s does not because all wholesalers are board certified M.D.’s, like the company’s founder.

Rogers’s total accounts receivable was $25,276,025.

Rogers’s total accounts receivable past due over 61 days was $17,434,500.

Rogers’s past top-five wholesalers had accounts receivable of $13,457,516.

Rogers’s top-five wholesale customers had $5,428,850 past due over 61 days.

Rogers’s allowance for doubtful accounts of $266,000 did not include any estimates for the top-five wholesale customers because it was management’s belief at the time that the top-five wholesalers did not present a collection risk.

Required:

Based on these control issues and findings, explain some of the most likely sources of misstatement that exist.

Please solve all. I don't have any more questions left. I will give thumbs up.

For Online Textbook Store & Payment System, please identify each of the requirements as a functional requirement/property or non-functional requirement/property. For every non-functional property/requirement, please add a remark to explain why.

10. The bookstore manager will be able to access the system in order to view sales summary reports.

11. Payments processed through the system are electronically transferred into the store’s bank account.

12. Bank sends monthly statements of account activity to the bookstore.

13. The system must be available for access 24/7.

14. Customers can select a preferred web browser to access the system.

15. A back up will be perform on the customer information and order information on a weekly basis.

16. Customers are not allowed to share their accounts with others.

17. Customers can send their comments via email to the company.

18. Customers can call Shipping Department to track their orders.

19. Customer records will be stored on a remote database server.

20. For security reasons, the maximum session duration cannot exceed 5 minutes.

I have (3) questions:

1. What exactly is the Cost-Benefit Principle, and how does it apply to ABC?

2. Is JIT just about the reduction of inventory? Please Explain.

3. Indicate which of the following answers to the statement below represents the best choice, then support your view. Indicate why one of the other choices is incorrect. Which of the following is classified as an inventory shortage cost?

a. Purchase order preparation.

b. Production disruption.

c. Lost sales and lost customers.

d. Spoilage.

e. Production disruption, lost sales, and lost customers.

f. The cost of Justin Bieber's latest iTunes single.

You manage a donut shop that sells two goods – donuts and coffee. You also face two types of customers – customer type A and customer type B, and you see 100 customers of each type. Their respective values for the 2 goods you sell are:

If you sell donuts and coffee separately, what prices should you charge for each?

Donuts: $______________

Coffee: $______________

If you sell the 2 goods together as a bundle, what price should you charge for the bundle?

Bundle: $_______________


ANSWERS IN BOLD ONLY TO RECEIVE RATING. THANKS!

1. 1. A supermarket chain wanted to obtain information on the length of time (in minutes) required to service customers. They need to decide on the number of service counters needed for stores to be built in the future. To find the distribution of customer service times, a sample of 60 customers’ service times were recorded and are shown here:      

3.6        1.9        2.1        .3          .8         .2         1.0        1.4        1.8        1.6

1.4        .2         1.3        3.1        .4         2.3        1.8        4.5        .9         .7

1.6        1.9        5.2        .5          1.8        .3          1.1         .6         .7          .6

Find the mode and the 20^th percentile of the above data set.    

2. Dee Pressants owns Dee’s Pharmacy located in a small medical office building. Dee estimates that 20% of her prescription business comes from referrals from Dr. Mel Practice. For the next 25 prescription customers, what is the probability that a. 6 or less were referred by Mel? b. Between 3 and 6 were referred by Mel? c. At least 4 were referred by Mel? d. Exactly 5 were referred by Mel? e. Dee makes $10 profit per prescription but has to pay Mel a $3 kickback on any referrals. What is the expected profit from the 25 customers?

Knowledge, skill, experience

Instructions: answer the questions below based on your experience in one of the following situations: (1)

a team lead, (2) a manager or supervisor, or (3) a member of a team.

1.     What knowledge, skills, and experience can I acquire that benefit my project team and customers

(internal or external customers)?

2.     What knowledge, skills, or experiences would make my job more rewarding in terms of job

satisfaction or job promotion?

3.     What steps can I take to acquire the needed knowledge, skills, or experience?

Immediately (30 days)                                              Longer-range ( 6 months to 1 year)

1.

2.

3.

4.

At a student café, there are equal numbers of two types of customers with the following values. The café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot price-discriminate).

The marginal cost of coffee is 5 and the marginal cost of a banana is 20.

The café owner is considering three pricing strategies:

Assume that if the price of an item or bundle is no more than exactly equal to a student's willingness to pay, then the student will purchase the item or bundle.

For simplicity, assume there is just one student with an early class, and one student without an early class.

Pricing strategy   yields the highest profit for the café owner

At a student café, there are equal numbers of two types of customers with the following values. The café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot price-discriminate).

The marginal cost of coffee is 10 and the marginal cost of a banana is 40.

The café owner is considering three pricing strategies:

Assume that if the price of an item or bundle is no more than exactly equal to a student's willingness to pay, then the student will purchase the item or bundle.

For simplicity, assume there is just one student with an early class, and one student without an early class.

Pricing strategy ?  yields the highest profit for the café owner.

Briggs Excavation Company is planning an investment of $154,500 for a bulldozer. The bulldozer is expected to operate for 2,000 hours per year for five years. Customers will be charged $110 per hour for bulldozer work. The bulldozer operator costs $33 per hour in wages and benefits. The bulldozer is expected to require annual maintenance costing $20,000. The bulldozer uses fuel that is expected to cost $43 per hour of bulldozer operation.

a. Determine the equal annual net cash flows from operating the bulldozer. Use a minus sign to indicate cash outflows. this is an input table. Need the numbers to go with each.

Determine the net present value of the investment, assuming that the desired rate of return is 15%. Use the present value of an annuity of $1 table above. Round to the nearest dollar. If required, use the minus sign to indicate a negative net present value.

c. Should Briggs Excavation invest in the bulldozer, based on this analysis?
Yes , because the bulldozer cost is more than  the present value of the cash flows at the minimum desired rate of return of 15%.

d. Determine the number of operating hours such that the present value of cash flows equals the amount to be invested. Round interim calculations and final answer to the nearest whole number.
?? hours

where there '??' are the numbers that I am missing and cant figure out