Flexible Budget for Selling and Administrative Expenses for a Service Company Cloud Productivity Inc. uses flexible budgets that are based on the following data: Sales commissions 14% of sales Advertising expense Miscellaneous administrative expense 20% of sales $7,000 per month plus 12% of sales $29,000 per month $12,000 per month plus 20% of sales Office salaries expense Customer support expenses Research and development expense $30,000 per month Prepare a flexible selling and administrative expenses budget for March for sales volumes of $400,000, $500,000, and $600,000. (Use Exhibit 5 as a model.) Cloud Productivity Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending March 31 Total sales $400000 $500000 $600000 Variable cost: Total variable cost Fixed cost: Cloud Productivity Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending March 31 Total sales $400000 $500000 $600000 Variable cost: 1 Total variable cost Fixed cost: I LJILI II III II INITI I 1 10 000 DO QULO00 LI II Total fixed cost Total selling and administrative expenses