Y. Write your answer in the space provided or on a separate sheet of paper. 1) F

Question

Y. Write your answer in the space provided or on a separate sheet of paper. 1) From the following details, provided by a merchandising company, prepare the selling and administrative expense budget for the first quarter of the next year. Rent Expense Depreciation Expense Insurance Expense Miscellaneous Expense Commissions Expense Salaries Expense $8,000 per month $3,500 per month $1,250 per month 2% of sales, paid as incurred 10% of sales $7,000 per month an Feb March Sales $50,000 $65,000$80,000

Explanation / Answer

Selling and admin expense budget January February March Quarter Rent Expense 8000 8000 8000 24000 Insurance Expense 1250 1250 1250 3750 Saleries Expense 7000 7000 7000 21000 Commission 5000 6500 8000 19500 Depreciation Expense 3500 3500 3500 10500 Miscellaniou s expense 1000 1300 1600 3900 Total 25750 27550 29350 82650

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