AUDIT+ASSURANCE SERVICES (LL) W/CONNECT
AUDIT+ASSURANCE SERVICES (LL) W/CONNECT
8th Edition
ISBN: 9781264979516
Author: LOUWERS
Publisher: MCG CUSTOM
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Chapter 4, Problem 42MCQ
To determine

Identify the responsibility of an auditor for detecting the noncompliance with any law or regulation.

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Gadot Industries developed the following per-unitstandards for its product: 7 pounds of direct materials at $4.85 per pound. Last month, 52,000 pounds of direct materials were purchased for $247,000, and 49,000 pounds were used in production. What is the direct materials price variance? A. $7,800 favourable B. $6,500 unfavourable C. $6,450 favourable D. $7,150 unfavourable
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