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QUESTION 1 You have been employed as an entry-level management accountant for a little under a year. You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company assets to personal use. Briefly discuss the steps you might take to resolve this dilemma and use a real world example (not hypothetical) to support your discussion.
Question 2 Lismore Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted:
Required:a.Prepare a cost of goods manufactured schedule for the quarter.
b.Prepare a cost of goods sold schedule for the quarter.
c.Indentify inventoriable and period costs.
d.Of what value is the schedule of cost of goods manufactured? How does it tie into the income statement? Discuss and use examples to support your discussion.