The Following Systems Flowchart Depicts a Portion of the OE/S

question 16

Essay

The following systems flowchart depicts a portion of the OE/S Process:
Required:
Based on the flowchart (TB Figure 10.10):
a. Complete the flowchart by matching the 8 blank items, which are indicated by the letters A through H with the 8 items listed below:
1. Bill of Lading
2. Compare order number and quantities
3. Completed picking ticket (with bar codes)
4. Display sales order
5. Enterprise database
6. Accept shipment
7. Packing Slip
8. Scan bar codes on picking ticket
b. Name the present and missing control plans identified with the letters P and M in the flowchart.

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Definitions:

Cost of Goods Sold

An accounting term representing the direct expenses related to producing or purchasing the goods sold by a company during a given period.

Amortization

The process of gradually paying off debt over a period of time through scheduled, pre-determined payments.

Gross Margin

The gross margin refers to the difference between the revenue generated from sales and the cost of goods sold, usually expressed as a percentage of revenue.

Operating Statement

A financial document that provides a summary of a company's revenues, expenses, and profit or loss over a specific period.