*Brief Exercise 24-07 Elbert Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are expected to be $26,710 in the first quarter, and $5,510 increments are expected in the remaining quarters of 2020. Fixed expenses are expected to be $41,680 in each quarter. Prepare the selling and administrative expense budget by quarters and in total for 2020. ELBERT COMPANY Selling and Administrative Expense Budget Quarter Question Attempts: 0 of 3 used