What are standard man-hours (SMH)? a. Actual employees b. ...

[maegan_martin]

What are standard man-hours (SMH)?
 
  a. Actual employees
  b. Numbers used to determine staffing needs
  c. Hours that can be calculated only by the week
  d. Number of productive hours

Question 2

Explain the necessary documentation and procedures that should be followed to pay vendors for product purchases.
 
  What will be an ideal response?

[matt]

Answer to Question 1

B

Answer to Question 2

Purchase requisitions can be used to alert purchasers that quantities of products are needed. This information can be included in an RFP to approved vendors. The selected vendor is issued a purchase order, and the items delivered are listed on a delivery invoice. Some establishments pay individual delivery invoices; others pay on the basis of statements that include products from several invoices.

Credit memos address product shortages and products that were not accepted. Staff must ensure that these amounts are subtracted from the payment. They must also check the extensions, or calculations, on the delivery invoice.

Petty cash funds can be used to make small cash purchases. Cash is removed from the fund as needed. The receipt and change are returned to the fund. The fund always retains its original balance in the form of cash plus paid receipts.

[maegan_martin]

Thanks for the timely response, appreciate it

[scottmt]

Great answer, keep it coming