Cadiz Co. uses flexible budgets to control its selling expenses. Monthly sales are expected to be from $300,000 to $360,000. 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 $40,000 and depreciation on delivery equipment $10,000. The actual selling expenses incurred in February, 2019, by Cadiz are as follows: Sales commissions $17,200 Advertising 12,000 Traveling Delivery 23,700 2,400 Fixed selling expenses consist of sales salaries $41,500 and depreciation on delivery equipment $10,000. Prepare a flexible budget performance report, assuming that February sales were $330,000. (List variable expenses before fixed expenses.) Advertising CADIZ CO. Selling Expense Budget Report (Flexible) For the Month Ended February 28, 2019 Budget Actual 330000 $ 330000 Traveling 16500 Difference Favorable (F) Unfavorable (U) Not Applicable (NA 17200 $ 700 Delivery 13200 12000 23100 23700 1200 600 3300 2400 900 56100 55300 800 40000 41500 1500 10000 10000 50000 51500 0 1500 $ 106100 106100 $ 700