Petersen Seafood, Inc. | StudyDaddy.com

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Petersen Seafood, Inc.

Petersen Seafood, Inc. buys and processes crab, which it sells largely to Japan and 2 distributors in Montréal and Toronto. The vocation besides sells crab to persomal consumers and restaurateurs from a sales opposed at the settle. During the fishing suitableness, which ultimates closely 15 weeks, the vocation produces 24,000 kg of crab per day, 5 days a week. Crab is processed precedently substance frozen and packed in 15-kg boxes. Crab for the Japanese market is raptureed in refrigerated containers aggravate further than 1,100 km to the Mirabel Airport, where it is shipped to its developed use by lading airplane.

JPL Transpo, a persomal congregation that Petersen has been practice delay for separate years, raptures the containers. Containers wait 1,500 boxes and the negotiated rates are $0.20/kg for shipments to the Montréal part and

$0.25/kg for the Toronto part.

During the ultimate few monthly audits, the owners keep illustrious indicative discrepancies among the completion sum of boxes manufactured and the sum of boxes sold. The developed substantial register sum at the end of the fishing suitableness showed a disagreement of 406 boxes among boxes manufactured and boxes sold. Normally, this disagreement is short than 0.1% of the completion every-year genesis. This year, the owners keep besides illustrious on separate occasions that excess genesis was not ample to gratify persomal call-for. This lion had rarely occurred in the gone-by. Because of these events, the owners keep asked you, a treatment auditing apt, to dissect the predicament domiciled on the forthcoming basis.

Here are the basis obtained antecedent to the resolution:

1.  Delivery to alien markets averages 7,500 boxes of crab per week, which represents 5 refrigerated containers.

2.  Containers are sealed precedently they liberty the settle, by traffic, to the Mirabel Airport and the 2 classification centres in Montréal and Toronto. The shipping clerk seals the containers and signs the rapture congregation’s beak of lading.

3.  For shipments to Japan, the crab boxes are infections at the airport to smaller air rapture containers.

Petersen is obligatory for all foundation shipping costs. Air lading costs are paid by the Japanese customer. You keep asked your coadjutor to raise out a antecedent resolution of the genesis and invoicing refines as courteous as raptureation costs. The results of the resolution carried out delay computer-assisted auditing techniques (CAATs) are presented in Exhibit 1. The other refines in the mediate scheme are the shipping refine and the employee refine.

Production refine

LOTNO: Lot sum: sole action sum generated automatically by the scheme PRODDATE: Limit of lot genesis

QTYPRO: Crab muchness processed (in kg) LABHRS: Labour hours used in processing PROD: Genesis (sum of 15-kg boxes)

EMPNO: Employee sum of the idiosyncratic who completed the action

Invoicing refine

INVNO: Invoice sum: sole action sum generated automatically by the scheme

INVDATE: Invoice limit CUSTNO: Customer sum 1: Japan Crab Meat Market

2: Montréal Fish & Sea Food Market 3: Toronto Fish & Sea Food Market 4: Persomal sales opposed

QTYINV: Sum of boxes sold and invoice

EMPNO: Employee sum of the idiosyncratic who completed the action

Transportation costs refine

REFNO: Reference sum: sole action sum generated automatically by the scheme SHIPNO: Shipping sum: sole action sum generated automatically by the scheme CUSTNO: Customer sum

CARNO: Carrier sum CARINVNO: Carrier invoice sum

INVAMT: Invoice totality for raptureation costs PAYDATE: Limit of reimbursement of invoice

EMPNO: Employee sum of the idiosyncratic who current and paid the invoice

Shipping refine

SHIPNO: Shipping sum: sole action sum generated automatically by the scheme SHIPDATE: Shipping limit

CARNAME: Carrier indicate CUSTNO: Customer sum 1: Japan Crab Meat Market

2: Montréal Fish & Sea Food Market 3: Toronto Fish & Sea Food Market

SHIPQTY: Muchness shipped (sum of 15-kg boxes)

EMPNO: Employee sum of the idiosyncratic who signed the beak of lading

Employee refine

EMPNO: Employee’s sum EMPNAME: Employee’s ultimate indicate EMPFTNAME: Employee’s principal indicate SIN: Employee’s collective insurance sum DOB: Employee’s limit of birth

ADDRESS1: Employee’s street sum and indicate ADDRESS2: Employee’s city

TD1: TD1 totality

DATEHIRE: Limit employee was hired


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