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I need help answering #6, 7 and 8 Green Pastures...

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Accounting

I need help answering #6, 7 and 8

Green Pastures Cheese, LLC

Audit Sample Plan for Confirmation of Accounts Receivable 12/31/--

B-9

WL

1/10/--

Objective: Establish the existence and gross valuation of accounts receivable and occurrence of sales by confirmation.

Population: The trial balance of accounts receivable at 12/31/--, with a total book value of $ 269,000

Definition of Misstatement: Any amount that is determined not to be a valid account receivable.

Sampling Technique: Probability-proportionate-to-size

Sampling Parameters:

Tolerable Misstatement:

Total materiality as indicated in the audit plan

$8,000

Less: Estimate of undetected misstatements (50% of overall materiality)

$4,000

Tolerable misstatement for this test

$4,000

Acceptable Level of Risk of Incorrect Acceptance

4.6%

Acceptable Level of Risk of Incorrect Rejection

1.0%

Population Size (Total number of sampling units

250

Estimated Standard Deviation

11.25

Determine the Incorrect Acceptance Coefficient

Determine the Incorrect Rejection Coefficient

Determine the Sample Size (rounded to the next highest round number) SHOW YOUR WORK

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