ACP AUDITING - RISK BASED APPROACH
ACP AUDITING - RISK BASED APPROACH
10th Edition
ISBN: 9780357195079
Author: JOHNSTONE
Publisher: CENGAGE C
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Chapter 2, Problem 30RSCQ
To determine

Introduction:Fraud triangle refers to conditions that are present when fraud is committed. Fraud triangle consists of opportunities, incentives or pressure, and rationalization that result in occurrence of fraud.

To explain:The manner in which, elements of fraud triangle relate to the occurrence of fraud.

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What is the budgeted total cost of direct materials purchases?
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During September, the assembly department completed 10,500 units of a product that had a standard materials cost of 3.0 square feet per unit at $2.40 per square foot. The actual materials purchased consisted of 22,000 square feet at $2.60 per square foot, for a total cost of $57,200. The actual material used during this period was 25,500 square feet. Compute the materials price variance and materials usage variance.
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