1. Prepare a monthly flexible selling expenses budget for Cottonwood Company for sales volum of $300,000, $350,000, and $400,000, based on the following data: Ling Them Description Value Sales commissions 65% of sales Sales manager's salary $120,000 per month Advertising expense $90,000 per month Shipping expense 1% of sales Misce aneous selling expense $6,000 per month plus 1.5%% of sales blank Cottonwood Company Monthly Selling Expense Budget Line Them Description Amount Amount Amount $Sales 4Sales $Sales Sales volume volume volume volume Variable expense: $Sales 4Sales 4Sales Sales commissions Commissions commissions commissions Shipping Shipping Shipping Shipping expense Miscellaneous Miscellaneous Miscelaneous so ing ac ing Go ing Miscel aneous selling expense expense expense expense $Total $Total $Total variable variable variable Total variable expenses expenses Fixed expense: $Sales 4Sales 4Sales manager's manager's manager's Sales manager's salary salary salary Advertising Advertising Advertising Advertising expense expense Miscelaneous selling expense Miscelaneous Miscelaneous Misce aneous so ing so ingexpense expense expense $Total fixed $Total fixed $Total fixed Total fixed expenses expenses expenses expenses $Total selling $Total selling $Total selling Total selling expenses expenses expenses expenses