Score: 0 of 10 pts 20t 10 complete HW Score: 90%,90 P7-37 (similar to) Question Help You are ating payroll for the Cast iron Technologer company for the year ended October 31, 2018, included nature amounts from the cont'u trial balance, along with comparative audited information for the prior year, Caicon to view the amounts from the hos) Click the icon to view the con information Read mit att Wintempting theme of factory ourty payroll, you must take to consideration both the 25 wage increase and the increase in the number of units produced and sold 2: Uw te ontwort primary sencer 10.1.2018 sudite se lance to determine the expected value for sale commission 12010.) Requirements Requirements 12/ Balance Expected Value 10/31/2010 Percentage Executive salaries 650,31 Factory hourly payroll ( Note 11 Factory Weiss salaries 29 2.900 2.10.14 Differences 1031/2010 12.01,400 Once salaries Sales commissions Note 2 the trial balance.) mation.) - Data Table units produced of factory hourly payroll, you 18 audited sales balance to dete Requirement Expected Va 10/31/2018 Preliminary Balance 10/31/2019 650,381 12,019,400 829,583 2,905,881 Audited Preliminary Balance Balance 10/31/2018 10/31/2019 Sales $ 54,009,200 $ 60,490,304 Executive salaries 544,881 650,381 Factory hourly payroll 10,594,822 12,019,400 Factory supervisors' salaries 760,800 829,583 Office salaries 1.792,309 2,905,881 Sales commissions 2,829,581 3,195,884 Sales have increased 12% over prior year. 5% percent of that is due to an increase in the average selling price. The remaining 7% is attributed to an increase in the number of units sold. 3,195,884 Print Done en click Check Answer. Clear All More Info units prod Hly payroll, you balance to dete Requirement (2) Expected Va 10/31/2019 You have obtained the following information to help you perform preliminary analytical procedures for the payroll account balances. 1. There has been a significant increase in the demand for Cast Iron's products. The increase in sales was due to both an increase in the average selling price of 5 percent and an increase in units sold that resulted from the increased demand and an increased marketing effort. 2. Even though sales volume increased, there was no addition of executives, factory supervisors, or office personnel. 3. All employees including executives, but excluding commission salespeople, received a 2 percent salary increase starting November 1, 2018. Commission salespeople receive their increased compensation through the increase in sales. 4. The increased number of factory hourly employees was accomplished by recalling employees that had been laid off. They receive the same wage rate as existing employees. Cast Iron does not permit overtime. 5. Commission salespeople receive a 7 percent commission on all sales on which a commission is given. Approximately 65 percent of sales earn sales commission. The other 35 percent are "call-ins," for which no commission is given. Commissions are paid in the month following the month they are earned. 3 1 4 Print Done Score: 0 of 10 pts 20t 10 complete HW Score: 90%,90 P7-37 (similar to) Question Help You are ating payroll for the Cast iron Technologer company for the year ended October 31, 2018, included nature amounts from the cont'u trial balance, along with comparative audited information for the prior year, Caicon to view the amounts from the hos) Click the icon to view the con information Read mit att Wintempting theme of factory ourty payroll, you must take to consideration both the 25 wage increase and the increase in the number of units produced and sold 2: Uw te ontwort primary sencer 10.1.2018 sudite se lance to determine the expected value for sale commission 12010.) Requirements Requirements 12/ Balance Expected Value 10/31/2010 Percentage Executive salaries 650,31 Factory hourly payroll ( Note 11 Factory Weiss salaries 29 2.900 2.10.14 Differences 1031/2010 12.01,400 Once salaries Sales commissions Note 2 the trial balance.) mation.) - Data Table units produced of factory hourly payroll, you 18 audited sales balance to dete Requirement Expected Va 10/31/2018 Preliminary Balance 10/31/2019 650,381 12,019,400 829,583 2,905,881 Audited Preliminary Balance Balance 10/31/2018 10/31/2019 Sales $ 54,009,200 $ 60,490,304 Executive salaries 544,881 650,381 Factory hourly payroll 10,594,822 12,019,400 Factory supervisors' salaries 760,800 829,583 Office salaries 1.792,309 2,905,881 Sales commissions 2,829,581 3,195,884 Sales have increased 12% over prior year. 5% percent of that is due to an increase in the average selling price. The remaining 7% is attributed to an increase in the number of units sold. 3,195,884 Print Done en click Check Answer. Clear All More Info units prod Hly payroll, you balance to dete Requirement (2) Expected Va 10/31/2019 You have obtained the following information to help you perform preliminary analytical procedures for the payroll account balances. 1. There has been a significant increase in the demand for Cast Iron's products. The increase in sales was due to both an increase in the average selling price of 5 percent and an increase in units sold that resulted from the increased demand and an increased marketing effort. 2. Even though sales volume increased, there was no addition of executives, factory supervisors, or office personnel. 3. All employees including executives, but excluding commission salespeople, received a 2 percent salary increase starting November 1, 2018. Commission salespeople receive their increased compensation through the increase in sales. 4. The increased number of factory hourly employees was accomplished by recalling employees that had been laid off. They receive the same wage rate as existing employees. Cast Iron does not permit overtime. 5. Commission salespeople receive a 7 percent commission on all sales on which a commission is given. Approximately 65 percent of sales earn sales commission. The other 35 percent are "call-ins," for which no commission is given. Commissions are paid in the month following the month they are earned. 3 1 4 Print Done