Exercise 8-6 Selling and Administrative Expense Budget (LO8-7] Weller Company's budgeted unit sales for the upcoming fiscal year are provided below: Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 15,000 16,000 14,000 13,000 The company's variable selling and administrative expense per unit is $2.50. Fixed selling and administrative expenses include advertising expenses of $8,000 per quarter, executive salaries of $35,000 per quarter, and depreciation of $20,000 per quarter. In addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property taxes of $8,000 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 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 Exercise 8-1 Casn Buaget (L08-8] Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 180,000 $ 330, 000 $ 210,000 $230,000 $260,000 $ 230,000 $220,000 $240,000 Total cash receipts Total cash disbursements $ 10U 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.) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 0 0 0 0 0 0 0 0 0 0 0 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance 0 0 0 0 0 0 0 0 0 0 0 $ $ $ $ $