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  • Account Expected Value

    Încărcat de

    laale dijaan
    26 vizualizări6 pagini
    This document shows the expected and audit balances for various payroll items at a company. It includes executive salaries, factory hourly payroll, factory supervisor salaries, office salaries, and sales commissions. The expected values were calculated by applying a 6% increase to the prior year amounts for salaries, and calculating commissions as 10% of 75% of increased sales. The audit balances differed from the expected values, with percentage differences ranging from -8.88% to 20.55%. Reasons for the differences are provided, such as a pay rate increase or increased production and sales.

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    This document shows the expected and audit balances for various payroll items at a company. It includes executive salaries, factory hourly payroll, factory supervisor salaries, office salaries, and sales commissions. The expected values were calculated by applying a 6% increase to the prior year amounts for salaries, and calculating commissions as 10% of 75% of increased sales. The audit balances differed from the expected values, with percentage differences ranging from -8.88% to 20.55%. Reasons for the differences are provided, such as a pay rate increase or increased production and sales.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca XLSX, PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    26 vizualizări6 pagini

    Account Expected Value

    Încărcat de

    laale dijaan
    This document shows the expected and audit balances for various payroll items at a company. It includes executive salaries, factory hourly payroll, factory supervisor salaries, office salaries, and sales commissions. The expected values were calculated by applying a 6% increase to the prior year amounts for salaries, and calculating commissions as 10% of 75% of increased sales. The audit balances differed from the expected values, with percentage differences ranging from -8.88% to 20.55%. Reasons for the differences are provided, such as a pay rate increase or increased production and sales.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca XLSX, PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    din 6

    Account Expected value

    Executive salaries 584368


    =551291*1.06

    Increase due to
    Factory Hourly Payroll 624177 payrate increase
    =10402954*0.06

    Increase due to
    increased
    Factory Hourly Payroll 11468216 production
    =(10402954+624177)*1.04

    Factory supervisors'
    salaries 698842
    =659285*1.06

    Office salaries 2373957


    =2239582*1.06
    Increase in
    commissions due
    Sales commision 263400 to increased sales
    =2633999*0.10

    Sales commissions 2897399


    =2633999+263400
    Difference in Expected and recorded Reasoning to support expected value

    All executives received a 6 percent


    increase in salaries effective november 1
    2015.There were no additions to the
    1.28% number of executives in the current year
    =(584368-576886)/584368

    The increase in factory hourly rate is


    attributed to two primary factors.Firstly,
    payrol expense would be expected to
    increase by 6% over the prior year to
    account for the 6% wage increase for all
    employees(except executives).Second
    payroll expense should increase 8% to
    account for the 8% increase in number of
    -2.00% the units produced and sold
    =(11468216-11697055)/11468216

    All factory supervisor's salaries received a


    6% increase effective november 1
    2015.there were no additions to the
    number of office personnel in the current
    -8.87% year
    =(698842-760800)/698842

    All office peronnel received a 6% increase


    effective november 1 2015.there were no
    additions to the number of office
    -1.30% personnel in the current year
    =(2373954-2404933)/2373957
    Sales increase by $9526477 . Commissions
    are only earned on about 75% of the
    increase ($7144858) would be considered
    in the calculation of commission
    expense.The fact that commissions are
    paid one month after they are earned
    does not affect commission expense for
    the year since management would have to
    accrue expense dor commissions earned
    8.18% but not paid as of october 31,2015
    =(2897399-2660499)/2897399
    Payroll Items Audit Balance 10/31/2015
    Executive Salaries $ 551,291 $ 33,077
    Factory Hourly Payroll $ 10,402,954 $ 624,177
    Factory Supervisor’s Salaries $ 659,285 $ 39,557
    Office Salaries $ 2,239,582 $ 134,375

    Sales Commissions $ 2,633,999 $ 714,486

    Payroll Items Expected Value (A) Preliminary balance(B)


    Executive Salaries $ 584,368.46 $ 576,886.00
    Factory Hourly Payroll $ 11,027,131.24 $ 11,697,055.00
    Factory Supervisor’s Salaries $ 698,842.10 $ 760,880.00
    Office Salaries $ 2,373,956.92 $ 2,404,933.00
    Sales Commissions $ 3,348,484.78 $ 2,660,499.00
    Analytical Procedure Expected Value 10/31/2016
    $16,408.12 (6% increase) $ 584,368
    $301,166.34 (6% increase) $ 11,027,131
    $23,574.75 (6% increase) $ 698,842
    $59,708.88 (6% increase) $ 2,373,957
    :(65564577-56038100)*75%*10% :
    10% increase on 75% of the increased $ 3,348,485
    sale

    Difference using formula((A-B)/A)


    1.28%
    -6.08%
    -8.88%
    -1.30%
    20.55%

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