Exercise 22-12 Sheridan Company combines its operating expenses for budget purposes in a selling and administrative expense budget. For the first 6 months of 2020, the following data are available. 1. 2. Sales: 21,000 units quarter 1; 22,200 units quarter 2. Variable costs per dollar of sales: sales commissions 5%, delivery expense 2%, and advertising 3%. Fixed costs per quarter: sales salaries $10,400, office salaries $6,100, depreciation $4,770, insurance $1,920, utilities $830, and repairs expense $620. Unit selling price: $22. 3. 4. Prepare a selling and administrative expense budget by quarters for the first 6 months of 2020. (List variable expenses before fixed expense.) SHERIDAN COMPANY Selling and Administrative Expense Budget Quarter 1 2 Six Months > $ $ > > $