You are the in-charge on the audit of Vandervoort Company and are to review the preceding audit schedule

Auditing P 7-38 You are the in-charge on the audit of Vandervoort Company and are to review the preceding audit schedule.

AND SO ON

Required:
a. List the deficiencies in the audit schedule.
b. For each deficiency, state how the audit schedule could be improved.
c. Prepare an improved audit schedule, using an electronic spreadsheet software program. Include an indication of the audit work done as well as the analysis of the client data.


Click here for the solution: You are the in-charge on the audit of Vandervoort Company and are to review the preceding audit schedule

Refer to the information given in the preceding problem for Great Outdoze, Inc

8-30 Refer to the information given in the preceding problem for Great Outdoze, Inc. Assume that direct material is the only unit-level manufacturing cost. The company has committed its spending for direct labor and overhead (variable and fixed).

Required:
1. Calculate the product cost per sleeping bag under throughput costing.
2. Prepare an income statement for the year 20x4 using throughput costing.
3. Give an argument for and against throughput costing.

Check: 2. Throughput costing, gross margin: $1,980,000


Click here for the solution: Refer to the information given in the preceding problem for Great Outdoze, Inc