i did this but im not sure if its correct . what would the selling expense budget and the general and administrative expense budget be?

80 Selling Expense Budget 81 Catlett Manufacturing, Inc. 82 3rd Quarter 2021 83 84 \begin{tabular}{c|c|c|} July & August September \\ \hline \end{tabular} 85 Variable Selling Expense: 86 Total Budgeted Sales (Dollars) 87X Commission Rate 88 Tota Variable Selling Expense 89 Fixed Selling Expense - Sale's Mgr Salary 90 Total Selling Expense 91 92 General \& Administrative Expense Budget Catlett Manufacturing. Inc. 3rd Quarter 2021 Administrative Salaries Interest on N/P(0.9%$300,000) Total General \&Administrative Expenses \begin{tabular}{|r|r|r|} \hline \multicolumn{1}{|c|}{ July } & \multicolumn{1}{c|}{ August } & \multicolumn{1}{c|}{ September } \\ \hline$10,000 & $10,000 & $10,000 \\ \hline 1 & 1 & 1 \\ \hline$10,001 & $10,001 & $10,001 \\ \hline \hline \end{tabular} The management of Catlett Manufacturing. Inc, prepared the followng estimated balance sheet for June 2022: To pecpare a maser budget Got July, Augas, and Scptember of 2022. managememt gathers tbe following information a. Sales were 18,000 uerits in June. Forceasted sales in units are as followx: July, 20,OVOO: August, 15,000: September. 20,000: and October 24,000 . The product's selling peice is $17 per unit and its total product cost is $14.35 per unit. b. Company policy calls for a given month's ending finished goods inventory to equal 7op: of the next month's expected unit sales. The June 30 finished goods inventory is 16,500 units, which docs not comply with the policy. $8 per unit. Fach finished unit reques 0.50 units of raw materials. d. Each finished unit requires 0.50 hours of direct labor at a rate of $16 per hour. e. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $2.70 per direct labor hour. Depreciation of $20.000 per month is trcated as fixed factory avcrhcad. f. Monthly general and administrative expenses include 510.000 administratrve salaries and 0.944 moenhly interest on the long-6erm note payable. g. Sales repecsentatives' commissions are 10% of sales and are paid in the month of the sales. The sales manager's moethly salary as $3.500. h. The company expects 30 D. of saies to be for cash and the remaining 7oes ce credit. Receivables are collected in full in the moenh following the sale (none are collected in the month of the sale). i. All raw matcrials purchasess are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid in the nekt month. 1. Drvidends of $25,000 are to be declared and paid in Aughast. 5. Inconse taxes payable at Jane 30 will be paid in July, Income tax expense will be assessed at 35% in the quarter and paid in October k. Equiment parehases of $100,000 are budgeted for the last day of September. m. The minimum ending cash balance for all months is $30,000. If necessary, the company borrows enough cash using a short-1erm note to reach the minimum. Sbort-ecrm notes require an interest payment of 1 W at each month-end (before any repayment). If the ending cash balance cececds the minimum, the excess will be applied to repaying the short-term notes payable balance Required Prepare the following budgets and other financial information as required. All budgets and other finamcial information should be prepared for the thind calendar quarser, cxcepe as otherwise noced below. Rousd caleulations so the nearest whole doular. 1. Sales budget. 7. General and admnistrative expeneoe bedget. 2. Production budget. 8. Cash budget. 3. Raw matcrials budget. 9. Bodgeted income statement for the entire quarter (not for each 4. Diecet labor budget. moesh separarely) 5. Factory owerhead budiget. 6. Selling expense budget. 80 Selling Expense Budget 81 Catlett Manufacturing, Inc. 82 3rd Quarter 2021 83 84 \begin{tabular}{c|c|c|} July & August September \\ \hline \end{tabular} 85 Variable Selling Expense: 86 Total Budgeted Sales (Dollars) 87X Commission Rate 88 Tota Variable Selling Expense 89 Fixed Selling Expense - Sale's Mgr Salary 90 Total Selling Expense 91 92 General \& Administrative Expense Budget Catlett Manufacturing. Inc. 3rd Quarter 2021 Administrative Salaries Interest on N/P(0.9%$300,000) Total General \&Administrative Expenses \begin{tabular}{|r|r|r|} \hline \multicolumn{1}{|c|}{ July } & \multicolumn{1}{c|}{ August } & \multicolumn{1}{c|}{ September } \\ \hline$10,000 & $10,000 & $10,000 \\ \hline 1 & 1 & 1 \\ \hline$10,001 & $10,001 & $10,001 \\ \hline \hline \end{tabular} The management of Catlett Manufacturing. Inc, prepared the followng estimated balance sheet for June 2022: To pecpare a maser budget Got July, Augas, and Scptember of 2022. managememt gathers tbe following information a. Sales were 18,000 uerits in June. Forceasted sales in units are as followx: July, 20,OVOO: August, 15,000: September. 20,000: and October 24,000 . The product's selling peice is $17 per unit and its total product cost is $14.35 per unit. b. Company policy calls for a given month's ending finished goods inventory to equal 7op: of the next month's expected unit sales. The June 30 finished goods inventory is 16,500 units, which docs not comply with the policy. $8 per unit. Fach finished unit reques 0.50 units of raw materials. d. Each finished unit requires 0.50 hours of direct labor at a rate of $16 per hour. e. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $2.70 per direct labor hour. Depreciation of $20.000 per month is trcated as fixed factory avcrhcad. f. Monthly general and administrative expenses include 510.000 administratrve salaries and 0.944 moenhly interest on the long-6erm note payable. g. Sales repecsentatives' commissions are 10% of sales and are paid in the month of the sales. The sales manager's moethly salary as $3.500. h. The company expects 30 D. of saies to be for cash and the remaining 7oes ce credit. Receivables are collected in full in the moenh following the sale (none are collected in the month of the sale). i. All raw matcrials purchasess are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid in the nekt month. 1. Drvidends of $25,000 are to be declared and paid in Aughast. 5. Inconse taxes payable at Jane 30 will be paid in July, Income tax expense will be assessed at 35% in the quarter and paid in October k. Equiment parehases of $100,000 are budgeted for the last day of September. m. The minimum ending cash balance for all months is $30,000. If necessary, the company borrows enough cash using a short-1erm note to reach the minimum. Sbort-ecrm notes require an interest payment of 1 W at each month-end (before any repayment). If the ending cash balance cececds the minimum, the excess will be applied to repaying the short-term notes payable balance Required Prepare the following budgets and other financial information as required. All budgets and other finamcial information should be prepared for the thind calendar quarser, cxcepe as otherwise noced below. Rousd caleulations so the nearest whole doular. 1. Sales budget. 7. General and admnistrative expeneoe bedget. 2. Production budget. 8. Cash budget. 3. Raw matcrials budget. 9. Bodgeted income statement for the entire quarter (not for each 4. Diecet labor budget. moesh separarely) 5. Factory owerhead budiget. 6. Selling expense budget