You are the auditors of Ty' apollo Limited, a manufacturing company. You are assigned to complete the test of the expenses and have been presented with the attached schedule of expenses for the year ended March 31,2021 and the comparatives for 2020. The audit supervisor has set the materiality level at $55,000 Required: Perform the steps to be carried out in applying analytical procedures to audit the expenses. Prepare the worksheet. Identify at least five accounts for further investigation and briefly state why and the procedure you will employ in carrying out the investigation. Ty'apollo Limited Income Statement Accounts - All Divisions For the Year Ended March 31, 2021 2021 2020 $ $ Sales 153,918,731 148,764,555 Sales Returns and Allowances 184,103 178,518 Cost of Sales 106,255,499 109,284,780 2,081,266 2,387,993 Salaries- Management Salaries-Office 315,169 295,681 Licensing and certification fees 190,650 172,883 Security 450,603 637,580 Insurance 93,197 103,842 Medical benefits 23,721 29,453 Advertising 162,512 198,009 Business publications 6,989 5,555 Property taxes 178,009 22,585 841,699 Bad debts 1,034,060 5,336,783 4,641,982 Depreciation expense Accounting fees 273,956 297,777 Salaries-Sales 14,970,669 15,327,777 Wages Rental 491,794 595,389 Wages-Mechanics 1,339,626 1,113,539 4,891,065 Wages-Warehouse 5,340,271 Garbage collection 27,649 29,771 Payroll benefits 2,657,889 2,937,730 Rent- Warehouse 802,855 764,346 Telephone 32.402 Utilities 262,393 Postage 89,763 45,173 267,005 133,518 12,350 168,405 81,589 Linen service 17,282 Repairs and maintenance 166,985 Cleaning service 89,800 Legal service 396,016 190,540 186,547 341,192 Fuel Travel and entertainment 203,389 103,842 Pension expense 228,555 237350 Office supplies 149,828 148,340 Miscellaneous 300,188 105,931 Other Expense-Interest 2181.948 2.299.217 302.447.300 295.651.758 You are the auditors of Ty' apollo Limited, a manufacturing company. You are assigned to complete the test of the expenses and have been presented with the attached schedule of expenses for the year ended March 31,2021 and the comparatives for 2020. The audit supervisor has set the materiality level at $55,000 Required: Perform the steps to be carried out in applying analytical procedures to audit the expenses. Prepare the worksheet. Identify at least five accounts for further investigation and briefly state why and the procedure you will employ in carrying out the investigation. Ty'apollo Limited Income Statement Accounts - All Divisions For the Year Ended March 31, 2021 2021 2020 $ $ Sales 153,918,731 148,764,555 Sales Returns and Allowances 184,103 178,518 Cost of Sales 106,255,499 109,284,780 2,081,266 2,387,993 Salaries- Management Salaries-Office 315,169 295,681 Licensing and certification fees 190,650 172,883 Security 450,603 637,580 Insurance 93,197 103,842 Medical benefits 23,721 29,453 Advertising 162,512 198,009 Business publications 6,989 5,555 Property taxes 178,009 22,585 841,699 Bad debts 1,034,060 5,336,783 4,641,982 Depreciation expense Accounting fees 273,956 297,777 Salaries-Sales 14,970,669 15,327,777 Wages Rental 491,794 595,389 Wages-Mechanics 1,339,626 1,113,539 4,891,065 Wages-Warehouse 5,340,271 Garbage collection 27,649 29,771 Payroll benefits 2,657,889 2,937,730 Rent- Warehouse 802,855 764,346 Telephone 32.402 Utilities 262,393 Postage 89,763 45,173 267,005 133,518 12,350 168,405 81,589 Linen service 17,282 Repairs and maintenance 166,985 Cleaning service 89,800 Legal service 396,016 190,540 186,547 341,192 Fuel Travel and entertainment 203,389 103,842 Pension expense 228,555 237350 Office supplies 149,828 148,340 Miscellaneous 300,188 105,931 Other Expense-Interest 2181.948 2.299.217 302.447.300 295.651.758