2 2 0 1 7 | P A G E 4 | JOHN WILEY AND SONS, INC. 2 2...
4 . 2 4 . 2 0 1 7
| P a g e 4
| John Wiley and Sons, Inc.
Essay Exam Support Materials
Page: 527
Correction to LO s. Should be No. 5 not No. 55:
“…as outlined in Auditing Standard No. 55.”
Page: 648
Question 1D-ES03
The last sentence on the page beginning “Without this planning and…” should be “Without this planing
and…”
Note: Planing is a manufacturing process applicable to the scenario.
Page: 681
Under Answer B: occurrences of “gross margin” need to be replaced with “gross profit”
Page: 691
Answer to Question 1D-ES03
Table A.1.
Split-Off Value Total should be $1,300,000 $1,350,000
Page: 692
Table A.2.
Split-Off Value Total should be $1,350,000 $1,300,000
Answers to Section Practice Questions
Page: 739
The other available answer choices are incorrect. Note that the flexible budget variance includes all
variable costs variances (material, direct labor, and variable overhead) as well as the fixed overhead
budget variance. is the variance between the actual results and flexible budget amount, which equals
$900 unfavorable.