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Classification of costs, merchandising sector. Band Box Entertainment (BBE) operates a large store in Atlanta, Georgia. The store has both a movie (DVD) section and a music (CD) section. BBE reports revenues for the movie section separately from the music section. Classify each cost item (A-H) as follows: a. Direct or indirect (D or I) costs of the total number of DVDs sold. b. Variable or fixed (V or F) costs of how the total costs of the movie section change as the total number of DVDs sold changes. (If in doubt, select on the basis of whether the total costs will change substantially if there is a large change in the total number of DVDs sold. You will have two answers (D or I; V or F) for each of the following items: Cost Item A. Annual retainer paid to a video distributor B. cost of store manager's salary C. costs of DVDs purchased for sale to customers D. Subscription to DVD Trends magazine E. Leasing of computer software used for financial budgeting at the BBE store F. cost of popcorn provided free to all customers of the BBE store G. cost of cleaning the store every night after closing H. Freight-in costs of DVDs purchased by BBE

Classification of costs, merchandising sector. Band Box Entertainment (BBE) operates a large store in Atlanta, Georgia. The store has both a movie (DVD) section and a music (CD) section. BBE reports revenues for the movie section separately from the music section. Classify each cost item (A-H) as follows: a. Direct or indirect (D or I) costs of the total number of DVDs sold. b. Variable or fixed (V or F) costs of how the total costs of the movie section change as the total number of DVDs sold changes. (If in doubt, select on the basis of whether the total costs will change substantially if there is a large change in the total number of DVDs sold. You will have two answers (D or I; V or F) for each of the following items: Cost Item A. Annual retainer paid to a video distributor B. cost of store manager's salary C. costs of DVDs purchased for sale to customers D. Subscription to DVD Trends magazine E. Leasing of computer software used for financial budgeting at the BBE store F. cost of popcorn provided free to all customers of the BBE store G. cost of cleaning the store every night after closing H. Freight-in costs of DVDs purchased by BBE

Horngren’s Cost Accounting

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Bill has contracted with a 3rd party to secure tape backups offsite. A courier daily arrives at 9 AM in an armored truck to pick-up and deliver the unencrypted backup tapes from the offsite facility. As the courier arrives at Bill and will scan each tape that is dropped and picked-up for inventory purposes. The courier will then sign for the tapes and transit the tapes to the offsite facility. At the offsite facility, the courier will then rescan each tape to ensure it is delivered and then staff at the off-site facility will secure Bill’s tapes in a separate area locked room that only houses Bill’s tapes. What are the control types (preventive or detective) and testing procedures?

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TMS maintains a log of all backups that occur either successfully or failures. TMS console is monitored such that alerts are sent to the problem tracking system which is reviewed and action is taken to remediate any issues. TMS maintains an inventory of all backups that occur. Additionally, TMS tracks tape usage and age which is monitored and tapes are replaced when maximum usage or age occurs. All tapes sent or retrieved from the offsite facility are logged into TMS using a scanning device. Bill does periodically randomly test restores of backup tapes. The restore events and success or failure (and follow-up remediation if failure) are logged into Bill’s IT customer tracking system. What are the control types (preventive or detective) and testing procedures?

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A Tape Management System (TMS) is used to initiate and perform all backups. TMS uses a combination of its own scheduling system and incorporates Bill’s own primary automated scheduler (AS). Both access to TMS and AS require authentication using network credentials which comply with policy. User access within TMS and AS are controlled using role-based security. Authorization to TMS must be approved by the Vice President of Infrastructure. Access to both systems is quarterly reviewed by the Vice President of Computer Operations.What are the control types (preventive or detective) and testing procedures?

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Data backups occur based on a defined schedule that includes only incremental file backups for file retention purposes. For each backup, two are created where one backup is sent to disk online within the data center and a second backup occurs to tape. Offsite backups are rotated and reused every 35 days from the backup facility. What are the control types (preventive or detective) and testing procedures?

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Bill is a U.S corporation that has both an Ecommerce division that sells retailer products and a Medical division that includes two hospitals and several medical practices. Bill processes all division transactions in one central data center. The data center is in the Los Angeles, California central downtown area. There are several welcome signs outside the building leading to the data center to ensure visitors know its location. What are the control type and testing procedures?

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"Current Network Password Features include: • Password change interval: Every 90 days • Password context: Require 1 upper alpha character. • Password history: 25 • Minimum days between password changes: 5 • Password length: 6 characters • System network inactivity timeout: 24 hours • User window screen saver inactivity timeout: 10 minutes • Account lockout: 30 seconds after 3 attempts"What are the control procedures, control gaps, and solutions to mitigate the control gap?

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Hajiangelo Malinao verified

Numerade educator

ABC maintains a privacy policy which is accessed on its Ecommerce site. The privacy policy is updated quarterly and complies with all federal data privacy laws. What are the control procedures, control gaps, and solutions to mitigate the control gap?

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ANSWERED

Hajiangelo Malinao verified

Numerade educator

ABC Company is a retailer with an Ecommerce presence and a SEC reporting company. ABC products are sold within the 48 contiguous states. Customers like ABC’s products due to their quality and loyalty program which includes several types of rebates based on a point system. Points are allocated based on purchases both dollar and volume. To become a loyalty customer, they must provide ABC with their name, phone number, address, and email address. Additionally, the customer must have a valid credit card number on file to place an order online. The credit card number is stored as part of the encrypted customer record. What are the control procedures, control gaps, and solutions to mitigate the control gap?

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INSTANT ANSWER

Bill has contracted with a 3rd party to secure tape backups offsite. A courier daily arrives at 9 AM in an armored truck to pick-up and deliver the unencrypted backup tapes from the offsite facility. As the courier arrives at Bill and will scan each tape that is dropped and picked-up for inventory purposes. The courier will then sign for the tapes and transit the tapes to the offsite facility. At the offsite facility, the courier will then rescan each tape to ensure it is delivered and then staff at the off-site facility will secure Bill’s tapes in a separate area locked room that only houses Bill’s tapes. What are the control procedures, control gaps, and solutions to mitigate the control gap?

View Answer
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INSTANT ANSWER

TMS maintains a log of all backups that occur either successfully or failures. TMS console is monitored such that alerts are sent to the problem tracking system which is reviewed and action is taken to remediate any issues. TMS maintains an inventory of all backups that occur. Additionally, TMS tracks tape usage and age which is monitored and tapes are replaced when maximum usage or age occurs. All tapes sent or retrieved from the offsite facility are logged into TMS using a scanning device. Bill does periodically randomly test restores of backup tapes. The restore events and success or failure (and follow-up remediation if failure) are logged into Bill’s IT customer tracking system. What are the control procedures, control gaps, and solutions to mitigate the control gap?

View Answer
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