Additional Background Operating Expense Budget The Selling, General and Administrative Expense Budget is a budget containing...

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Additional Background Operating Expense Budget The Selling, General and Administrative Expense Budget is a budget containing all non-production spending expected to occur during the budget period. Sandy explained that the Selling, General and Administrative Expense Budget is not linked to either the sales budget or the purchases budget. Instead this budget will be based on expected costs to be incurred for advertising, depreciation and utilities. An analysis of these items resulted in the following budget estimates: Advertising Depreciation Utilities First Second Third Fourth Quarter Quarter Quarter Quarter $25,000 $25,000 $35,000 $40,000 2,000 2,000 6,000 6,000 15,000 17,000 18,500 19,000 Required: You are to work alone on this case and contact the instructor if you have questions or problems. 3. Prepare a one-year Operating Expense Budget 3.1. In your Gasoline AlleyBudget.xlsm open the worksheet named OperatingExpenses 3.2. In Rows 1, 2, and 3 insert the following title information: Gasoline Alley Garage Selling, General and Administrative Budget For the year ending December 31, 2020 3.3. Starting in Cell B5 insert the following Column headings and center the headings First Quarter Second Quarter Third Quarter Fourth Quarter Total 3.4. Starting in Cell A6 insert the following Row headings: Advertising Depreciation Utilities A blank row Total 3.5. Enter the estimates given above to the appropriate cells in the Selling, General, and Administrative Budget worksheet 3.6. Insert a formula in Cell B10 to calculate the Total 3.7. Copy the formula in Cell B10 to the appropriate cells in Row 10 for each quarter and the total Additional Background Operating Expense Budget The Selling, General and Administrative Expense Budget is a budget containing all non-production spending expected to occur during the budget period. Sandy explained that the Selling, General and Administrative Expense Budget is not linked to either the sales budget or the purchases budget. Instead this budget will be based on expected costs to be incurred for advertising, depreciation and utilities. An analysis of these items resulted in the following budget estimates: Advertising Depreciation Utilities First Second Third Fourth Quarter Quarter Quarter Quarter $25,000 $25,000 $35,000 $40,000 2,000 2,000 6,000 6,000 15,000 17,000 18,500 19,000 Required: You are to work alone on this case and contact the instructor if you have questions or problems. 3. Prepare a one-year Operating Expense Budget 3.1. In your Gasoline AlleyBudget.xlsm open the worksheet named OperatingExpenses 3.2. In Rows 1, 2, and 3 insert the following title information: Gasoline Alley Garage Selling, General and Administrative Budget For the year ending December 31, 2020 3.3. Starting in Cell B5 insert the following Column headings and center the headings First Quarter Second Quarter Third Quarter Fourth Quarter Total 3.4. Starting in Cell A6 insert the following Row headings: Advertising Depreciation Utilities A blank row Total 3.5. Enter the estimates given above to the appropriate cells in the Selling, General, and Administrative Budget worksheet 3.6. Insert a formula in Cell B10 to calculate the Total 3.7. Copy the formula in Cell B10 to the appropriate cells in Row 10 for each quarter and the total