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.