Exercise 8-6 (Algo) Selling and Administrative Expense Budget (LO8-7) Weller Company's budgeted unit sales for the upcoming fiscal year are provided below. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 16,000 18,eee 15,000 14,000 The company's variable selling and administrative expense per unit is $150 Fixed selling and administrative expenses include advertising expenses of $9,000 per quarter, executive salaries of $35,000 per quarter, and depreciation of $15,000 per quarter. In addition the company will make insurance payments of $4,000 in the first quarter and $4,000 in the third quarter Finally, property taxes of $6,000 will be paid in the second quarter Required: Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2 decimal places.) Weller Company Selling and Administrative Expense Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Weller Company Selling and Administrative Expense Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Variable selling and administrative expense per unit Variable selling and administrative expense Fixed selling and administrative expenses: Total fixed selling and administrative expenses Total selling and administrative expenses Cash disbursements for selling and administrative expenses Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year Management has prepared the following summary of its budgeted cash flows: ist Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 350, eee $ 470, eee $ 480, eee $ 420,000 Total cash disbursements 5 393, een $363,000 $ 353, eee $ 373,000 The company's beginning cash balance for the upcoming fiscal year will be $20.000 The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3% The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments and interest should be indicated by a minus sign.) Answer is complete but not entirely correct. Year Answer is complete but not entirely correct. Garden Depot Cash Budget 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Beginning cash balance $ 20,000 $ 10,000 $ 83,010 $ 130,010 Total cash receipts 350,000 470,000 400,000 420,000 Total cash available 370,000 480,000 483,010 550,010 Total cash disbursements 393,000 363,000 353,000 373,000 Excess deficiency) of cash available over disbursements (23,000) 117,000 130,010 177,010 Financing Borrowings 33.000 0 0 0 Repayments 0 (33,000) O 0 Intorost (990) 0 0 Total financing 33,000 (33,990) 0 0 Ending cash balance 10,000 $ 83,010 $ 130,010 $ 177,010 $ 20,000 770,000 790,000 766,000 24,000 13 0 33,000 (33.000) (990) (990) $ 177,010 3 $
