Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

KIRKLAND COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2020 * Quarter begin{tabular}{ll} hline & Quarter hline 1 &

image text in transcribed
image text in transcribed
image text in transcribed
KIRKLAND COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2020 * Quarter \begin{tabular}{ll} \hline & Quarter \\ \hline 1 & 2 \\ \hline \end{tabular} Budgeted Sales in Units Varlable Expenses Saies Commissions $ $ Dellvery Expense Advertising Total Variable Fixed Expenses Sales Salaries Office Salarles Depreciation Insurance Utilities Repairs Expense Total Flxed Total Selling and Administrative Expenses eTextbook and Media Kirkland Company combines its operating expenses for budget purposes in a selling and administrative expense budget. For the first 6 months of 2020 , the following data are available. 1. Sales: 20,800 units quarter 1;22,000 units quarter 2. 2. Variable costs per dollar of sales: sales commissions 5%, delivery expense 2%, and advertising 3%. 3. Fixed costs per quarter: sales salaries $10,600, office salaries $6,370, depreciation $4,470, insurance $1,890, utilities $850, and repairs expense $670. 4. Unit selling price: $23. Prepare a selling and administrative expense budget by quarters for the first 6 months of 2020 . (List variable expenses before fixed expense.) Quarter \begin{tabular}{r} \hline 1 \\ \hline \end{tabular} $ $ $ Six Months $$ = Sxpenses : $ $ KIRKLAND COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2020 * Quarter \begin{tabular}{ll} \hline & Quarter \\ \hline 1 & 2 \\ \hline \end{tabular} Budgeted Sales in Units Varlable Expenses Saies Commissions $ $ Dellvery Expense Advertising Total Variable Fixed Expenses Sales Salaries Office Salarles Depreciation Insurance Utilities Repairs Expense Total Flxed Total Selling and Administrative Expenses eTextbook and Media Kirkland Company combines its operating expenses for budget purposes in a selling and administrative expense budget. For the first 6 months of 2020 , the following data are available. 1. Sales: 20,800 units quarter 1;22,000 units quarter 2. 2. Variable costs per dollar of sales: sales commissions 5%, delivery expense 2%, and advertising 3%. 3. Fixed costs per quarter: sales salaries $10,600, office salaries $6,370, depreciation $4,470, insurance $1,890, utilities $850, and repairs expense $670. 4. Unit selling price: $23. Prepare a selling and administrative expense budget by quarters for the first 6 months of 2020 . (List variable expenses before fixed expense.) Quarter \begin{tabular}{r} \hline 1 \\ \hline \end{tabular} $ $ $ Six Months $$ = Sxpenses : $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Good Better Best A Guidebook For Performance Auditing

Authors: Gary Blackmer

1st Edition

131265869X, 978-1312658691

More Books

Students also viewed these Accounting questions

Question

What does stickiest refer to in regard to social media

Answered: 1 week ago