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5: Monetary Unit (MUS) Sampling This question has multiple parts. Type your answer for each Part in the indicated space. You are on the audit
5: Monetary Unit (MUS) Sampling This question has multiple parts. Type your answer for each Part in the indicated space. You are on the audit engagement team for Fleming Bikes, Inc., for the fiscal year-end January 31, 2023. You have been assigned to the audit of accounts receivable and will be performing the confirmation of accounts receivable audit procedure to test the existence assertion. Fleming Bikes has an accounts receivable balance of $15,500,000. Your team has determined that tolerable misstatement is $930,000, expected misstatement is $232,500, and the desired confidence level is 95%. Refer to the attribute sampling tables at the end of this quiz when completing Part A of this question: Part A: Compute the sample size for the confirmation of accounts receivable. Sample size (rounded to a whole number) = ___________ Part B: Given the sample size you computed in Part A along with the other information provided in Part A, compute the sampling interval (rounded to a whole number): Sampling interval = ________ Part C: Assume that your team has collected the sample and evaluated each sample item. Your team has identified the following customer accounts with differences between their book (recorded) value and the audited
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