manufacturing overhead) for the upcoming fiscal year. Round off to the nearest whole cent. EXERCISE 9-6 Selling and Administrative Expense Budget [LO2] The budgeted unit sales of Hirst Company for the upcoming fiscal year are provided below: First Second Third Fourth Quarter Quarter Quarter Quarter 14000 1000 10000 The company's variable selling and administrative expenses per unit are $2.75. Fixed selling and administrative expenses include advertising expenses of $12,000 per quarter, executive salaries of $40,000 per quarter, and depreciation of $16,000 per quarter. In addition, the company will make insurance payments of $6,000 in the second quarter and $6,000 in the fourth quarter. Finally, property taxes of $6,000 will be paid in the third quarter. Required: Prepare the company's selling and administrative expense budget for the upcoming fiscal year. Also include the cash disbursements for selling and administrative expenses as per Schedule 7. EXERCISE 9-7 Cash Budget Analysis [LO2] A cash budget, by quarter, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $5,000 to start each quarter. Required: Fill in the missing amounts in the table that follows