My answers are wrong. Please help with requirements A and B.
- X Data Table - i Requirements Audited Balance 10/31/2018 Preliminary Balance 10/31/2019 a. Use the final balances for the prior year and the information in items 1 through 5 to develop an expected value for each account, except sales. (Round to the nearest whole dollar.) b. Calculate the difference between your expectation and the client's recorded amount as a percentage using the formula (expected value - recorded amount)/expected value. (Round to the nearest hundredth percent, X.XX%.) Sales* $ 59,401,400 $ 68,311,610 Executive salaries 492,811 592,003 Factory hourly payroll 8,371,149 11,004,992 Factory supervisors' salaries 760,800 840,392 Office salaries 1,867,433 2,694,881 Sales commissions 1,958,300 2,660,499 *Sales have increased 15% over prior year. 2% percent of that is due to an increase in the average selling price. The remaining 13% is attributed to an increase in the number of units sold. Print Done Print Done P7-37 (similar to) Question Help You are auditing payroll for the Reel In Technologies company for the year ended October 31, 2019. Included next are amounts from the client's trial balance, along with comparative audited information for the prior year. (Click the icon to view the amounts from the trial balance.) (Click the icon to view the additional information.) Read the requirements. (Note 1: When computing the expected value of factory hourly payroll, you must take into consideration both the 4% wage increase and the 13% increase in the number of units produced and sold. Note 2: Use the increase in the 10/31/2019 preliminary sales balance over the 10/31/2018 audited sales balance to determine the expected value for sales commissions on 10/31/2019.) Requirement b. Requirement a. (2) [(2) - (1)]/(2) (1) Preliminary Balance 10/31/2019 Expected Value 10/31/2019 Difference as a Percentage 592,003 592003 0.00% Executive salaries Factory hourly payroll (see Note 1) Factory supervisors' salaries 11,004,992 12933066.6 17.52 % 840,392 840392 0.00 % Office salaries 2,694,881 2694881 0.00% Sales commissions (see Note 2) 2,660,499 3006363.87 13.00 % - X Data Table - i Requirements Audited Balance 10/31/2018 Preliminary Balance 10/31/2019 a. Use the final balances for the prior year and the information in items 1 through 5 to develop an expected value for each account, except sales. (Round to the nearest whole dollar.) b. Calculate the difference between your expectation and the client's recorded amount as a percentage using the formula (expected value - recorded amount)/expected value. (Round to the nearest hundredth percent, X.XX%.) Sales* $ 59,401,400 $ 68,311,610 Executive salaries 492,811 592,003 Factory hourly payroll 8,371,149 11,004,992 Factory supervisors' salaries 760,800 840,392 Office salaries 1,867,433 2,694,881 Sales commissions 1,958,300 2,660,499 *Sales have increased 15% over prior year. 2% percent of that is due to an increase in the average selling price. The remaining 13% is attributed to an increase in the number of units sold. Print Done Print Done P7-37 (similar to) Question Help You are auditing payroll for the Reel In Technologies company for the year ended October 31, 2019. Included next are amounts from the client's trial balance, along with comparative audited information for the prior year. (Click the icon to view the amounts from the trial balance.) (Click the icon to view the additional information.) Read the requirements. (Note 1: When computing the expected value of factory hourly payroll, you must take into consideration both the 4% wage increase and the 13% increase in the number of units produced and sold. Note 2: Use the increase in the 10/31/2019 preliminary sales balance over the 10/31/2018 audited sales balance to determine the expected value for sales commissions on 10/31/2019.) Requirement b. Requirement a. (2) [(2) - (1)]/(2) (1) Preliminary Balance 10/31/2019 Expected Value 10/31/2019 Difference as a Percentage 592,003 592003 0.00% Executive salaries Factory hourly payroll (see Note 1) Factory supervisors' salaries 11,004,992 12933066.6 17.52 % 840,392 840392 0.00 % Office salaries 2,694,881 2694881 0.00% Sales commissions (see Note 2) 2,660,499 3006363.87 13.00 %
