A)Discuss Three Important Differences Between the Human Resources and Payroll

question 17

Essay

A)Discuss three important differences between the human resources and payroll cycle and other cycles in a typical audit.
B)Describe each of the six business functions in a typical human resources and payroll cycle.
C)Describe each of the primary documents and records used in the timekeeping and payroll preparation function in the payroll and personnel cycle.
D)Discuss each of the primary documents and records used in 1)the payment of payroll function,and 2)the preparation of employee withholdings and benefits remittance forms function in the payroll and personnel cycle.

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Definitions:

Last Month

Refers to the period of time from the first to the last day of the month immediately preceding the current month.

Variable Overhead Efficiency Variance

The difference between the actual hours taken to produce goods and the standard hours expected, multiplied by the variable overhead rate.

Variable Manufacturing Overhead

Costs in the manufacturing process that fluctuate with the level of production activity, such as utilities and materials.

Direct Labor-hours

The full amount of labor hours by employees directly contributing to the generation of products or services.