Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blossom Co. uses flexible budgets to control its selling expenses. Monthly sales are expected to be from $301,000 to $361,000. Variable costs and their percentage

Blossom Co. uses flexible budgets to control its selling expenses. Monthly sales are expected to be from $301,000 to $361,000. Variable costs and their percentage relationships to sales are: Sales commissions 5% Advertising 4% Traveling 7% Delivery 1% Fixed selling expenses consist of sales salaries $41,000 and depreciation on delivery equipment $11,000. The actual selling expenses incurred in February, 2022, by Blossom are as follows: Sales commissions $17,250 Advertising 12,040 Traveling 23,770 Delivery 2,410 Fixed selling expenses consist of sales salaries $42,600 and depreciation on delivery equipment $11,000. Prepare a flexible budget performance report assuming that February sales were $331,000. (List variable expenses before fixed expenses.) BLOSSOM CO. Selling Expense Budget Report (Flexible) For the Month Ended February 28, 2022 Difference Budget Actual Favorable (F) Unfavorable (U) Not Applicable (NA) select an opening flexible budget report item select an item $enter a dollar amount $enter a dollar amount select an opening name for section one select an item $enter a dollar amount $enter a dollar amount $enter the difference select an option select an item enter a dollar amount enter a dollar amount enter the difference select an option select an item enter a dollar amount enter a dollar amount enter the difference select an option select an item enter a dollar amount enter a dollar amount enter the difference select an option select a closing name for section one enter a total amount for section one enter a total amount for section one enter the difference select an option select an opening name for section two select an item enter a dollar amount enter a dollar amount enter the difference select an option select an item enter a dollar amount enter a dollar amount enter the difference select an option select a closing name for section two enter a total amount for section two enter a total amount for section two enter the difference select an option select a closing flexible budget report item $enter a total amount for this budget $enter a total amount for this budget $enter the difference select an

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren

3rd Edition

0131800345, 978-0131800342

More Books

Students also viewed these Accounting questions