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Chapter 15 Mark: 5 FMGT 2152 CHAPTER 15 ASSIGNMENT Name: Last 3digits of student#: Question 1 The Kellerman Company uses flexible budgets to control its selling expenses. Monthly sales are expected to be from $200,000 to $240,000. Variable costs and their percentage relationships to sales are: Sales commissions 7% Advertising 4% Traveling 6% Delivery 1% Fixed selling expenses consist of Sales Salaries 540,000 and Depreciation on Delivery Equipment $10,000. The actual selling expenses incurred in February 2017, by Kellerman Company are as follows: Sales commissions $15.700 Advertising 8.000 Travelling 13,300 Delivery 1,600 Actual fixed selling expenses consisted of Sales Salaries of $41.500 and Depreciation on Delivery Equipment of $10,000 Instructions Prepare a flexible budget performance report, assuming that February sales were $220,000. Expected and actual sales are the same. (Complete the budget template in the quiz tool) +1/3+ Chapter 15 Mark: /5 KELLERMAN COMPANY Selling Expense Budget Report (Flexible) Month ended February 28, 2017 Actual Results Flexible Budget Difference Favourable F Unfavourable U Sales $220,000 $220,000 Variable expenses Sales commissions Advertising Traveling Delivery Total variable Fixed expenses Sales salaries Depreciation Total fixed Total expenses Net Profit