For June, Sheridan Company estimated sales revenue at $600000. It pays sales commissions that are 4% of sales. The sales manager's salary is $385000, estimated shipping expenses total 1% of sales, and miscellaneous selling expenses are $15000. How much are budgeted selling expenses for the month of July if sales are expected to be $540000? $25800 $10800 $430000 $427000 Concord Corporation had average operating assets of $5200000 and sales of $2600000 in 2016. If the controllable margin was $520000, the ROI was 1096 40% O 50% 20% Which statement is true? An investment center is responsible for revenues and expenses, as well as earning a return on assets An investment center is only responsible for its investments. An investment center is only responsible for revenues and expenses. A profit center is evaluated using contribution margin, while an investment center is evaluated using ROI Match the following statements to the appropriate terms. The review of budget reports by top management directed entirely or primarily to differences between actual results and planned objectives A part of management accounting that involves accumulating and reporting revenues and costs on the basis of the individual manager who has the authority to make the day-to-day decisions about the items The preparation of reports for each level of responsibility shown in the company's organization chart. A projection of budget data at one level of activity Costs that a manager has the authority to incur within a given period of time. The use of budgets to control operations. A projection of budget data for various levels of activity. A responsibility center that incurs costs, generates revenues, and has control over the investment funds available for use. Costs that relate specifically to a responsibility center and are incurred for the sole benefit of the center. A responsibility center that incurs costs and also generates revenues. Costs which are incurred for the benefit of more than one profit center A measure of the profitability of an investment center computed by dividing controllable margin (in dollars) by average operating assets