The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach. Requirement 1 To ascertain: Out of the two auditors, the right one or both

Question

Kurup Manufacturing has a standard of 3.4 pounds of materials per unit, at $14.80 per pound. In producing 1,050 units, Kurup used 3,400 pounds of materials at a total cost of $49,200. What is Kurup's total materials variance?

Answer 1

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

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Answer 2

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

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Answer 3

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

Expert Solution & Answer

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Answer 4

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

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Answer 5

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

Answer 6

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

Answer 7

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

Answer 8

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

Answer 9

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

Answer 10

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

Answer 11

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

Answer 12

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Answer 23

Ch. 9 - Prob. 1TFQ Ch. 9 - Prob. 2TFQ Ch. 9 - Prob. 3TFQ Ch. 9 - Prob. 4TFQ Ch. 9 - Prob. 5TFQ Ch. 9 - Prob. 6TFQ Ch. 9 - Prob. 7TFQ Ch. 9 - Prob. 8TFQ Ch. 9 - Prob. 9TFQ Ch. 9 - Prob. 10TFQ

Solution Summary: The author explains that the audit approach is the strategy for conducting an audit by the auditor.

Chapter 9 Solutions