Exercise 23-06 a-b The actual selling expenses incurred in March 2020 by Sheridan Company are as follows. Variable Expenses Sales commissions $10,766 Advertising 11,682 Travel 6,624 Delivery 3,372 Fixed Expenses Sales salaries $34,700 Depreciation 7,300 Insurance 2,000 (a) Prepare a flexible budget performance report for March, assuming that March sales were $165,600. Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 7%, traveling 4%, and delivery 2%. Fixed selling expenses will consist of sales salaries $34,700, Depreciation on delivery equipment $7,300, and insurance on delivery equipment $2,000. (List variable costs before fixed costs.) SHERIDAN COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ $ $ $ $ (b) Prepare a flexible budget performance report, assuming that March sales were $173,800. (List variable costs before fixed costs.) SHERIDAN COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ $ $ >