8-27 LO 6 (h) in 8-26, assuming a population size of $8,500,000. Recall that sampling interval = population size ÷ sample size. Round the value of the interval down to the nearest $1,000 or $10,000 to ensure that the sample size is adequate and is easy for the auditor to select the sample. Calculate the sampling interval for cases (a) through O 20

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 27, please. It uses the numbers / information from #26. Thank you.
Practice calculating the sample size in a MUS sample using
Exhibit 8.7, with the following combinations of inputs.
8-26
LO 6
Ratio of Expected
Ratio of Tolerable
Risk of Incorrect
to Tolerable
Misstatement to
Acceptance
Misstatement
Population (%)
Sample Size
а.
5%
0.20
50%
b.
10%
0.20
30%
С.
15%
0.30
8%
d.
20%
0.30
5%
е.
25%
0.40
4%
f.
30%
0.40
3%
g.
35%
0.50
2%
h.
50%
0.50
1%
8-27 LO 6
(h) in 8-26, assuming a population size of $8,500,000. Recall that
sampling interval = population size sample size. Round the value of
the interval down to the nearest $1,000 or $10,000 to ensure that the
sample size is adequate and is easy for the auditor to select the sample.
Calculate the sampling interval for cases (a) through
Q 20
Transcribed Image Text:Practice calculating the sample size in a MUS sample using Exhibit 8.7, with the following combinations of inputs. 8-26 LO 6 Ratio of Expected Ratio of Tolerable Risk of Incorrect to Tolerable Misstatement to Acceptance Misstatement Population (%) Sample Size а. 5% 0.20 50% b. 10% 0.20 30% С. 15% 0.30 8% d. 20% 0.30 5% е. 25% 0.40 4% f. 30% 0.40 3% g. 35% 0.50 2% h. 50% 0.50 1% 8-27 LO 6 (h) in 8-26, assuming a population size of $8,500,000. Recall that sampling interval = population size sample size. Round the value of the interval down to the nearest $1,000 or $10,000 to ensure that the sample size is adequate and is easy for the auditor to select the sample. Calculate the sampling interval for cases (a) through Q 20
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