Elm Manufacturing Company (ELM) is a small manufacturer of backpacks located in Rochelle, Illinois. You have access to ELM's electronic records (via the "Sales 2020 - 4th Quarter" dataset provided below). Detailed information about ELM, instructions for accessing datasets, and a data directory for data sets can be found below. Required Data Files: Chapter 7 ELM Files (click to download a .zip file) You have identified relevant controls for several assertions within the revenue cycle, and you must use IDEA to perform several tests of controls. Required: Using the information above, complete all of the related steps shown below using IDEA. After completing each step, answer each question by supplying the required information. (Enter your answers exactly as they appear in IDEA.) a. ELM has a policy of using prenumbered customer order forms to help control for the completeness assertion. Inquiry of the client determined that order forms 17001-17405 were used during the quarter. Using IDEA, create a schedule of missing customer order forms. How many missing order forms were there? b. Each customer order should be entered into the system once and only once. Using IDEA, search for duplicate customer order forms. What is the total dollar amount of duplicate orders? c. To assist with the collectability of accounts receivable, ELM has a policy that all customer orders must be approved and marked as approved in the order system. Create a schedule of exceptions to this policy. What is the total number of orders that have not been authorized? What is the total number of shipped orders that have not been authorized? d. To ensure the posting of sales in a timely manner and increase the collectability of accounts receivable, ELM has a policy to always invoice customers within two days of shipping. Create a schedule of exceptions to the invoicing policy, and determine the number of shipped orders not invoiced within two days. e. Based on the tests in (a) to (d), determine which of the presented statements represent appropriate items to be included on a memo assessing the results of tests of controls. You may select as many as apply. Complete the question by entering your answers in the tabs given below. Based on the tests in (a) to (d), determine which of the presented statements represent appropriate items to be included on a memo assessing the results of tests of controls. (Select all items that apply in the list below by choosing "X" in the corresponding cell in dropdown column. For items that do not apply, leave the corresponding dropdown cell blank.)
