Phase IV of the Audit Primarily Relies on Which Type(s)of

question 56

Multiple Choice

Phase IV of the audit primarily relies on which type(s) of audit evidence?

• A) analytical procedures
• B) inquiries of client
• C) documentation
• D) all of the above

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Definitions:

Variable Manufacturing Cost Per Unit

The total variable costs involved in manufacturing a product, divided by the number of units produced.

Overhead Cost

Expenses related to the operation of a business that cannot be directly tied to a specific product or service, such as rent and utilities.

Setups

The process or cost of configuring machinery or equipment to change from producing one product to another.

Fixed Overhead Costs

Expenses that remain constant for a period of time irrespective of the level of outputs, like factory rent or salary of permanent employees.