EXERCISE 8-6 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 15,000 13,000 Budgeted unit sales 16,000 14,000 The company's variable selling and administrative expense per unit is $2.50. Fixed selling and administrative expenses include advertising expenses of S8,000 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: Using Schedule 7 as your guide, prepare the company's selling and administrative expense budget for the upcoming fiscal year