Question: Please provide steps by steps instructions on how to get the numbers and calculations. Rachel Robertson wishes to use mean-perunit sampling to evaluate the reasonableness

Please provide steps by steps instructions on how to get the numbers and calculations.

Please provide steps by steps instructions on how
Rachel Robertson wishes to use mean-perunit sampling to evaluate the reasonableness of the book value of the accounts receivable of Smith1 Inc. Smith has IDJJDD receivable accounts with a total book value of $l,5tll],. Robertson estimates the population's standard deviation to be equal to $25. After examining the overall audit plan, the auditors believe that the account's tolerable misstatement is $60,001], and that a risk of incorrect rejection of 5 percent and a risk of incorrect acceptance of It} percent are appropriate. Required: . Calculate the required sample size. it. Assuming the following results: Book value of items in sample = $149 Average audited value of items in sample = $146 Standard deviation of sample = $28 use the mean-perunit method to: (1} Calculate the point estimate of the account's audited value. [2} Calculate the projected misstatement for the population. {3} Caqulate the adjusted allowance for sampling risk. [4} State the auditors' conclusion in this situation [accept or reject}. Use the following replies for the above questionsreplies may be used once, more than once, or not at a]]. In all cases, select the reply closest to your answer. Replies Sample size (a) 10.344].er 2.112 accounts 12' $1,450va 4. 253 ECCDUI'ItS 14' $l,4?.[ll Other replles for (In) 15' 3153\

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