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Payroll expense has 1,000 entries and a book value of $500,000. You test a sample...

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Accounting

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Payroll expense has 1,000 entries and a book value of $500,000. You test a sample of 400 SKU items having a book value of $200,000. The audited value of your sample is $201,000 which indicates an error of $1,000 in the sample. If tolerable error is $50,000, would you conclude that payroll expense is Need additional cvidence Materially Understated Not materially understated Materially Overstated

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