Question
I have worked the original problem and the results are as follows. I need help in completing the table at the end of this post. Thanks
The orginal problem includes the following info is needed : You are evaluating the results of a nonstatistical sample of 85 accounts receivable confirmations for the Hartman Company. Information on the sample and population are included below. Tolerable misstatement for accounts receivable confirmation sampling is $ 140,000
I have taken care of requirement a. of the problem by calculating misstatement amounts and describing them. I need help with requirement b. which is the completion of the table at the end of this post. All info. from the original problem has been provided in this post.
Data Tables used for first part of the problem are:
Represented Misstatements Are:
Acct. Recorded Confirmation
No. Value Response Misstatement Description
147 $ 67,850 $ 66,575 $ 1,275 Pricing Error
228 100,250 76,127 24,123 Cutoff Error
278 6,215 4,115 0 Timing Difference
497 72,652 0 0 Timing Difference
564 8,794 8,482 312 Error in Qty. Shipped
653 41,389 29,492 11,897 Cutoff Error
830 6,850 0 6,850 Cutoff Error
Total Misstatement…………………………… $ 44,457
Other Data Table given with problem is:
Sample Population
# of Recorded # of Recorded
Stratum Accounts Value Accounts Value
1 > $75,000 8 $ 1,528,725 8 $ 1,528,725
2 $10,000 – $74,999 40 1,653,320 257 4,982,510
3 < $10,000 25 90,180 712 926,520 73 $ 3,272,225 977 $ 7,437,756 . Complete the table below to determine the total projected misstatement in the accounts receivable population. (Do not round interim calculations. Round your final answer to the nearest whole dollar.) Sampling Risk in the calculations is to be ignored. Sample Sample Book Projected Value Misstatements Value Misstatements Stratum 1 ____________ _______________ ___________ _____________ Stratum 2 ____________ _______________ ___________ _____________ Stratum 3 ____________ _______________ ___________ _____________ Totals ____________ _______________ ___________ _____________ 830 6,850 0 $6,850 shipment recorded on December 30th goods were not shipped until January 3rd Print Done
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