What are good internal audit softwares for risk analysis & audit planning as well as data analysis?
Answers: I don't know that audit software can help you plan as planning requires a lot of critical thinking, but perhaps the website below can help you.
How to prepare a rota of Cost of Goods manufactured contained by accounting?
Mannerman Fabrication manufactures an assortment of products. Data for the most recent months operations are below:Beginning lightly cooked materials inventory.....55,000
Purchase of raw materials.......440,000
Ending rare materials inventory.....65,000
Direct labor...........
Manufacturing overhead........380,00...
Beginning work in progress inventory..190,000
Ending work surrounded by progress inventory....220,000
how do I prepare a schedule of cost of commodities manufactured from this information?
Thanks so much in finance for your help!
Answers: this is my specialty! here it is:
Mannerman Fabrication
statement of cost of products manufactured
For period culmination XXXX
Direct Materials Used
Materials Inventory, Beginning 55,000
Direct Materials Purchased xx,xxx
Less materials inventory, ending 65,000
Cost of Direct Materials Used xx,xxx
Direct Labor xx,xxx
Manufacturing Overhead xx,xxx
Total Manufacturing Costs xx,xxx
Add Beginning work contained by process inventory
Less Ending work in process inventory
Cost of Goods Manufactured
Thats it. Obviously i havexx,xxxx surrounded by there because you didnt dispense the numbers. And where i typed "less" previously a title, that obviously mode subtract that number
I sell questionable merchandise how do I boost my profits?
Answers: The general rules of economics apply to all merchandise, even the questionable stuff.
1) Depending on how you "obtain" your merchandise, getting it in bulk will save you time and you should be able to negotiate a discount (if you are purchasing it)
2) Supply & demand - control the market! If you are the only supplier in that particular location, or there is something unique about your merchandise, you can decide how much you sell and how much you sell it for. Just tell your buyers that there aren't many around and as a result you have to charge higher prices - they don't have to know you have another 100 at home!
3) Sell "extras" - interestingly enough, big business make a large chunk of their profits in add-ons, not on their big name items. I once heard that Microsoft was losing money on the Xbox console, but they didn't mind since people would then spend heaps on the more profitable games and other accessories. I'm not sure what you're selling, but get creative! You probably think it sounds stupid in your situation, just think about it though. The question is: what do people need/want when they are using your merchandise? eg after buying their movie ticket at the cinema, customers want popcorn.
It doesn't matter that you are in the questionable merchandise business, the standard business theories still apply.
Questionable merchandise? Sounds to me like you are selling drugs or maybe stolen property. You figure it out.