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Accounting HW question Sales for Smith Company are expected to be $230,000 for February and $280,000 in March. The following budgeted expenses are expected for
Accounting HW question
Sales for Smith Company are expected to be $230,000 for February and $280,000 in March. The following budgeted expenses are expected for March: Rent Expense Depreciation Expense Insurance Expense (prepaid for 1st quarter on January 1) Miscellaneous Expense (paid as incurred) Commissions Expense (50% paid in current month, 50% paid in following month) Salaries Expense $31,000 per month $10,000 per month $200 per month 15% of sales 5% of sales $34,000 per month What is the expected total selling and administrative expenses for the month of March? A. $129,950 B. $129,750 C. $131,000 D. $119,950Step by Step Solution
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