Current Attempt in Progress Lockwood Company combines its operating expenses for budget purposes in a selling and administrative expenses budget. For the first six months of 2020, the following data are available: 1. Sales: 20.100 units in quarter 1: 22,000 units in quarter 2 2. Variable costs per dollar of sales: sales commissions 5%; delivery expense 2%; and advertising 4% 3. Fixed costs per quarter: sales salaries $11,000; office salaries $8,700; depreciation $3,800; insurance $1,500; utilities. $800; and repairs expense $600 4. Unit selling price: $19 Prepare a selling and administrative expenses budget by quarters for the first six months of 2020. LOCKWOOD COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2020 2 Total Prepare a selling and administrative expenses budget by quarters for the first six months of 2020. LOCKWOOD COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2020 2 Total $ $