ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
18th Edition
ISBN: 9781307515596
Author: RECK
Publisher: MCG/CREATE
Question
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Chapter 11, Problem 14C

a.

To determine

List the federal departments that have sponsored the federal programs, as per the OMB Compliance Supplement referred to in the website mentioned in the question.

b.

To determine

Indicate whether any of the programs listed are part of the same cluster, under single audit.

c.

To determine

Indicate whether any of the federal programs could be classified as Type A programs, and indicate whether any of the programs could be exempted from being assessed under the risk-based approach.

d.

To determine

Identify the programs that would be selected for audit, and mention the reason.

e.

To determine

Explain whether or not the selection of programs for audit would change, if the not-for-profit organization has received unmodified opinion for the last two years and the Head Start program was selected for audit; and indicate the programs to be selected with reason.

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Sunland Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year. Other data: 1. 2. 3. 4. On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,165 and combined direct labor costs of $14,100. Overhead was applied at a rate that was 75% of direct labor cost. During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $3,572 and direct labor $4,512, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December. On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $4,700. On December 31, Job No. 157 was the only finished job that was not sold. It had a cost of $3,760. Manufacturing overhead was $1,386 underapplied in December. List the letters (a) through (m) and indicate…
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