You are assigned to the audit of Hopewell Homebuilders, Inc., a new audit client. Hopewell uses a standard costing system for inventory accounting. What audit procedures are appropriate for evaluating the reasonableness of management's estimates and underlying assumptions used in a standard costing system?

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The Answer of You are assigned to the audit of Hopewell Homebuilders, Inc., a new audit client. Hopewell uses a standard costing system for inventory accounting. What audit procedures are appropriate for evaluating the reasonableness of management's estimates and underlying assumptions used in a standard costing system?

You Are Assigned to the Audit of Hopewell Homebuilders, Inc