She noted that "Product development" expense consists primarily of salary to employees. She noted that there were about 20 employees who work in this department and all are paid about the same salary in 20XX-1(PY). Note there was 3 new employees hired in January 20XX. Each employee received a salary increase of about 5%. No other significant changes were noted in this department. Inflation was steady during the period. Using a reasonableness analytic estimate Produce development expense for 20XX. Assume Overall Materiality is $600K, Tolerable Misstatement $400K, and Deminimis Materiality is $40,000. *See the "Q5-7 Guidence" tab for additional instructions * Account Name PY Value(s) Salary Expense Value per 20XX(CY) Expected Value FS Difference $830,000 0 $ 1,014,000 $ Conclusion EX:(Difference is above Overall Materiality Threshold(whatever threshold you established in Q4 tab)). Unusual because XXX. Not (1,014,000) unusual becauseXXX. Keep response to 1-2 sentences. Remember the numbers are rounded to thousands, please round your materiality to thousands when comapring it to the difference. For "Expected Value" and "Difference" Use actual excel formulas in the following cells to complete your calculation.-> Average Salary of 1 Employee in 20XX-1(PY)| % Salary Increase Expected Average Salary of 1 employee in 20XX(CY) Number of employees in 20XX(CY) Expected Total Salary for all Employees 20XX(CY) $0.0 0 HINTS: