During the audit of a manufacturing firm, you are performing audit data analytics ba payroll file. You are examining the reasonability of deductions as a percentage of gross the 12 months of the year and the results were summarized in the following scatter ch interpret the visualization. Discuss any notable items you identified, potential causes, steps you would take. Deductions as a % of gre 60.0% 50.0%

During the audit of a manufacturing firm, you are performing audit data analytics ba payroll file. You are examining the reasonability of deductions as a percentage of gross the 12 months of the year and the results were summarized in the following scatter ch interpret the visualization. Discuss any notable items you identified, potential causes, steps you would take. Deductions as a % of gre 60.0% 50.0%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Service Department Charges In divisional income statements prepared for LeFevre Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll distributions, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $52,140, and the Purchasing Department had expenses of $23,760 for the year. The following annual data for Residential, Commercial, and Government Contract divisions were obtained from corporate records: Government Residential Commercial Contract Sales $497,000 $658,000 $1,511,000 Number of em ployees: Weekly payroll (52 weeks per year) 135 85 90 Monthly payroll 32 43 30 Number of purchase requisitions per year 2,300 1,600 1,500 a. Determine the total amount of payroll checks and purchase requisitions processed per year by the company and each division. Government Residential Commercial Total Contract Number of payroll checks: Weekly payroll…
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Question 2 With the following data, compute the NET FUTA Tax. $6,750 Gross FUTA Tax DUE Credit against FUTA (assume $3,100 applicable) O $3,650 O $7,000 O $3,100 $6,750 MacBook Air 80 F3 F2 F4 F5 F6 F7 FB F9 3 4. 5 7 8 9. E T Y D G < 6 F.