Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Question
Chapter 24, Problem 16RQ
To determine
Explain the term “non-GAAP (Generally Accepted Accounting Principles) measure” and summarize the requirements related with the inclusion of non-GAAP measures in financial statements filed with the SEC.
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Flow of Production Units
Units to be accounted for:
Beginning WIP inventory
MERCIER MANUFACTURING
Fabricating Department
Production Cost Report-FIFO
Phycol Units
Total Costs
Prior
Department Materials Labor
Costs
Manufacturing
Overhead
Units started this period
Total units to be accounted for
15,000
75,000
90,000
Units accounted for.
Units
completed and transfered out:
From beginning inventory
15,000
Started and completed currently
45,000
45,000
45,000
45,000
46,000
Units in ending WIP Inventory
30,000
30,000
30,000
18,000
15,000
Total units accounted for
90,000
75,000
75.000
63,000
60,000
Costs to be accounted for.
Costs in beginning WIP inventory
$
129,570 $
75,750 $ 36,000 $
9,300 $
8,520
Current period costs
Total costs to be accounted for
$
129,570 $ 75,750
214,200
$250,200 $
64,800
33,480
74,100 $
42,000
Cost per equivalent unit
Prior department costs
Materials
Labor
Manufacturing overhead
Costs accounted for.
S
4.80
$ 2.80
$
0.96
S
(0.48)
Costs assigned to units transformed out:…
Raw materials purchased and ending inventory
Chapter 24 Solutions
Auditing And Assurance Services
Ch. 24 - Prob. 1RQCh. 24 - Explain why an auditor is interested in a clients...Ch. 24 - Prob. 3RQCh. 24 - Prob. 4RQCh. 24 - Prob. 5RQCh. 24 - Prob. 6RQCh. 24 - Prob. 7RQCh. 24 - Prob. 8RQCh. 24 - What major considerations should the auditor take...Ch. 24 - Identify five audit procedures normally done as a...
Ch. 24 - Prob. 11RQCh. 24 - Prob. 12RQCh. 24 - Prob. 13RQCh. 24 - Prob. 14RQCh. 24 - Prob. 15RQCh. 24 - Prob. 16RQCh. 24 - Prob. 17RQCh. 24 - Prob. 18RQCh. 24 - Prob. 19RQCh. 24 - Prob. 20.1MCQCh. 24 - Prob. 20.2MCQCh. 24 - Prob. 20.3MCQCh. 24 - Prob. 21.1MCQCh. 24 - Prob. 21.2MCQCh. 24 - Prob. 21.3MCQCh. 24 - Prob. 22.1MCQCh. 24 - Prob. 22.2MCQCh. 24 - Prob. 22.3MCQCh. 24 - Prob. 23.1MCQCh. 24 - Prob. 23.2MCQCh. 24 - Prob. 23.3MCQCh. 24 - Prob. 24DQPCh. 24 - Prob. 25DQPCh. 24 - Prob. 26DQPCh. 24 - Prob. 28DQPCh. 24 - Prob. 29DQPCh. 24 - Prob. 32DQPCh. 24 - Prob. 33DQP
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