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.) i (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 3% wage increase and the 14% 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 a. Requirement b. [(2)- (1)1/ (2) (1) Preliminary (2) Expected Value Difference as a Balance 10/31/2019 Percentage 10/31/2019 Executive salaries 629,481 % Factory hourly payroll (see Note 1) 11,004,992 Factory supervisors' salaries 840,392 Office salaries 2,084,001 % Sales commissions (see Note 2) 2,395,881 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 ear. E(Click the icon to view the amounts from the trial balance.) (Click the icon to view the additional information.) Data Table Read the requirements (Note 1: When computing the expected value of factory hourly increase in the 10/31/2019 preliminary sales balance over the the number of units produced and sold. Note 2: Use the 10/31/2019.) Preliminary Balance Audited Balance 10/31/2018 10/31/2019 Sales 68,905,624 59,401,400 $ (1) Executive salaries Preliminary Balance 570,004 629.481 Factory hourly payroll 10,402,954 11,004,992 10/31/2019 Factory supervisors' salaries 659,285 840,392 Executive salaries 629,481 Office salaries 2,239,582 2,084.001 Factory hourly payroll (see Note 1) 11,004,992 Sales commissions 2,798,321 2,395,881 Factory supervisors' salaries 840,392 Sales have increased 16 % over prior year. 2 % percent of that is due to an increase in the average selling price. The remaining 14% is attributed to an increase in the number of units sold Office salaries 2,084,001 Sales commissions (see Note 2) 2,395,881 Print Done You are auditing payroll for the Reel In Technologies company for the vear ended October 31, 2019. Included next are amounts from the client's trial balance, along with comparative audited information for the prior ar. iMore Info (Click the icon to view the amounts from the trial balance. i(Click the icon to view the additional information.) Read the requirements. You have oblained 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 Reel In's products. The increase in sales was due to both an increase in the average selling price of 2 percent and an increase in units sold that resulted from the increased demand and an increased marketing effort. (Note 1: When computing the expected value of factory hourly increase in the 10/31/2019 preliminary sales balance over the the number of units produced and sold. Note 2: Use the |10/31/2019.) 2. Even though sales volume increased, there was no addition of executives, factory supervisors, or office personnel (1) Preliminary 3. All employees including executives, but excluding commission salespeople, received a 3 percent salary increase starting November 1, 2018. Commission salespeople receive their increased compensation through the increase in sales. Balance 10/31/2019 Executive salaries 629,481 Factory hourly payroll (see Note 1) 11,004,992 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. Reel In does not pemit overtime. Factory supervisors' salaries 840,392 Office salaries 2,084,001 5. Commission salespeople receive a 4 percent commission on all sales on which a commission is given. Approximately 80 percent of sales eam sales commission. The other 20 percent are "call-ins," for which no commission is given. Commissions are paid in the month following the month they are earned Sales commissions (see Note 2) 2,395,881 Print Done Enter any number in the edit fields and then continue to the next question. 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.) i (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 3% wage increase and the 14% 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 a. Requirement b. [(2)- (1)1/ (2) (1) Preliminary (2) Expected Value Difference as a Balance 10/31/2019 Percentage 10/31/2019 Executive salaries 629,481 % Factory hourly payroll (see Note 1) 11,004,992 Factory supervisors' salaries 840,392 Office salaries 2,084,001 % Sales commissions (see Note 2) 2,395,881 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 ear. E(Click the icon to view the amounts from the trial balance.) (Click the icon to view the additional information.) Data Table Read the requirements (Note 1: When computing the expected value of factory hourly increase in the 10/31/2019 preliminary sales balance over the the number of units produced and sold. Note 2: Use the 10/31/2019.) Preliminary Balance Audited Balance 10/31/2018 10/31/2019 Sales 68,905,624 59,401,400 $ (1) Executive salaries Preliminary Balance 570,004 629.481 Factory hourly payroll 10,402,954 11,004,992 10/31/2019 Factory supervisors' salaries 659,285 840,392 Executive salaries 629,481 Office salaries 2,239,582 2,084.001 Factory hourly payroll (see Note 1) 11,004,992 Sales commissions 2,798,321 2,395,881 Factory supervisors' salaries 840,392 Sales have increased 16 % over prior year. 2 % percent of that is due to an increase in the average selling price. The remaining 14% is attributed to an increase in the number of units sold Office salaries 2,084,001 Sales commissions (see Note 2) 2,395,881 Print Done You are auditing payroll for the Reel In Technologies company for the vear ended October 31, 2019. Included next are amounts from the client's trial balance, along with comparative audited information for the prior ar. iMore Info (Click the icon to view the amounts from the trial balance. i(Click the icon to view the additional information.) Read the requirements. You have oblained 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 Reel In's products. The increase in sales was due to both an increase in the average selling price of 2 percent and an increase in units sold that resulted from the increased demand and an increased marketing effort. (Note 1: When computing the expected value of factory hourly increase in the 10/31/2019 preliminary sales balance over the the number of units produced and sold. Note 2: Use the |10/31/2019.) 2. Even though sales volume increased, there was no addition of executives, factory supervisors, or office personnel (1) Preliminary 3. All employees including executives, but excluding commission salespeople, received a 3 percent salary increase starting November 1, 2018. Commission salespeople receive their increased compensation through the increase in sales. Balance 10/31/2019 Executive salaries 629,481 Factory hourly payroll (see Note 1) 11,004,992 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. Reel In does not pemit overtime. Factory supervisors' salaries 840,392 Office salaries 2,084,001 5. Commission salespeople receive a 4 percent commission on all sales on which a commission is given. Approximately 80 percent of sales eam sales commission. The other 20 percent are "call-ins," for which no commission is given. Commissions are paid in the month following the month they are earned Sales commissions (see Note 2) 2,395,881 Print Done Enter any number in the edit fields and then continue to the next