mean by unit sampling

Project Description:

unit 4 mean-per-unit sampling
data relevant to the december 31, 20x1 audit of accounts receivable in two of your clients is presented in the tabulation below.

company x company y
clients bv $90,000.00 $200,000.00
population size 1000 2000
desired risk of incorrect acceptance 20% 30%
desired risk of incorrect rejection 10% 5%
tolerable misstatement $9,000.00 $10,000.00
estimated standard deviation $50.00 $25.00

a. determine sample size for each company using mpu estimation sampling.
planned allowance calculation
company x 5000 1.666666667 3 3000
3000


company y 2500 1.75 7 1429
1429


b. assume the total audited value of the company x sample is $13600 and the standard deviation is $52.
evaluate the sample results.



c. assume the average of the sample audit values in the company y sample is $90 and the standard
deviation is $30. evaluate the sample results.
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