Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started