Examine the following questions from an internal control questionnaire for the assembly process of a yacht manufacturer. Assume that the answer to each of these is "no" (which means that the control is weak in that area). For each of the questions, identify the accounts that might be affected, state the management assertion that might be compromised for those accounts, and suggest a substantive audit procedure to perform on the accounts.

a. Are variances from standard costs investigated promptly?

b. Is a comprehensive chart of accounts kept for recording various inputs to and transfers of manufactured inventory?

c. Are the duties of those who handle inventory separated from those who handle the records of inventory?

d. Are adequate records kept for and periodic inspections made of inventory kept offsite?

e. When raw materials inventory arrives, do the receiving department employees have blank forms to fill out (i.e., are the quantities and qualities of the products ordered not on the form)?

f. Are control totals reconciled to reflect when inventory arrives or moves between accounts?

g. Does management make periodic reviews of slow-moving inventory for determining obsolescence?

h. Does the requisitioning of raw materials from inventory require a supervisor's initials before materials are released?