What role does each of the following departments play in the sales order processing subsystem: sales, credit, and shipping? Be complete
The sales department receives the order information from the customer, either by mail, phone, or in person. Information is captured on a sales order form which includes customer name, account number, name, number and description of items ordered, quantities and unit prices plus taxes, shipping info, discounts, freight terms. This form is usually prepared in multiple copies that are used for credit approval, packing, stock release, shipping, and billing.
The credit department provides transaction authorization by approving the customer for a credit sale and returns and allowances.
The shipping department receives information from the sales department in the form of packing slip and shipping notice. When the goods arrive from the warehouse, the documents are reconciled with the stock release papers. The goods are packed and labeled. The packing slip is included. The shipping notice is sent to billing. A bill of lading is prepared to accompany the shipment.
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The ____ provides management with a historical summation of total costs for a given product
a. job-order cost sheet b. employee time sheet c. material requisition form d. bill of lading
JAX Inc In early 2012, JAX Inc had budgeted for the production and sales of 5,000 units at a sales price of $15 per unit. The following information is available regarding the standard cost for each unit: Direct materials: 1.50 pounds at $2.50 per lb Direct labor: 30 minutes of assembly at $.20 per minute Actual results for 2012 were determined to be as follows: Number of units produced and sold:
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First Federal loaned Madeline $20,000 to purchase a new van. The van was for Madeline's personal and family use. First Federal's security interest is a purchase money security interest which perfects only upon filing a financing statement
a. True b. False Indicate whether the statement is true or false