Rachel Robertson wishes to use mean-per-unit sampling to evaluate the reasonableness of the book value of the accounts receivable of Smith, Inc. Smith has 10,400 recevable accounts with a total book value of $1,560,000. Robertson estimates the population's standard deviation to be equal to $26. After examining the overall audit plan, the auditors belleve that the account's tolerable misstatement is $61,000, and that a risk of incorrect rejection of 4.6 percent and a risk of incorrect acceptance of 10 percent are appropriate. Use Elgure 9,8 Assuming the following results: Book value of items in sample = $147 Average audited value of items in sample = $145 Standard deviation of sample - $32 Required: a. Use the ratio method to calculate: (The solution from 9-42 is required in order to complete 9-43.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) $ (1) Projected misstatement (2) Estimated total audited value 30,201 b. Use the difference estimation method to calculate: (1) Projected misstatement (2) Estimated total audited value FIGURE 9.8 Risk Coefficients Acceptable Level of Risk 1.0% 4.6 5.0 10.0 15.0 20.0 25.0 30.0 40.0 50.0 Incorrect Acceptance Coefficient 2.33 1.68 1.64 1.28 1.04 0.84 0.67 0.52 0.25 0.00 Incorrect Rejection Coefficient 2.58 2.00 1.96 1.64 1.44 1.28 1.15 1.04 0.84 0.67