Another question. (b)

Ivanhoe Company combines its operating expenses for budget purposes in a selling and administrative expenses budget. For the first six months of 2022 , the following data are available: 1. Sales: 20,100 units in quarter 1;22,000 units in quarter 2 2. Variable costs per dollar of sales: sales commissions 5%; delivery expense 2%; and advertising 4% 3. Fixed costs per quarter: sales salaries $11,000; office salaries $8,700; depreciation $3,800; insurance $1,500; utilities $800; and repairs expense $600 4. Unit selling price: $19 Prepare a selling and administrative expenses budget by quarters for the first six months of 2022. Kingbird Corporation is projecting a cash balance of $32,000 in its December 31,2021 , balance sheet. Kingbird's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $182,000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $40,000. Other information gathered for the first 2022 is as follows: sale of equipment $1,000; direct labour $73,000, manufacturing overhead $38,000; selling and administrative expenses $43,000; and purchase of securities $15,000. Kingbird wants to maintain a balance of at least $27,000 cash at the end of each quarter. >> > > > >>