Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 6.00 yards at $6.00 per yard Direct labor of 3.00 hours at $20.00 per hour Overhead applied per sleeping bag at $18.00 In the month of April, the company actually produced […]
Explain whether you agree or disagree with the following statement: “For every control selected for testing, the internal auditor requires the same quality (relevance and reliability) and quantity (sufficiency) of audit evidence” A yes or no answer is not sufficient. Need to explain why. Please provide an example in your response. Looking for a Similar Assignment? […]
Alpha Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2017, Alpha Company acquired the following trading securites: 8/15 yankee company 1,500 $50 9/25 xray comapny 1,250 $30 9/30 Zulu Company 1,000 $26 On november 10th, alpha comapny sold the zulu company stock for $31 per share. On December 15th, x-ray […]
Cardi Company manufactures 20,000 units of wheel sets for use in its annual production. Costs are as follows: direct materials are $30,000; direct labor is $70,000; variable overhead is $35,000; and fixed overhead is $60,000. Bowie Company has offered to sell Cardi 20,000 units of wheel sets for $9 per unit. If Cardi accepts the […]
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