Question 1 Elbert Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are expected to be $25,150 in the first quarter, and $5,190 increments are expected in the remaining quarters of 2017. Fixed expenses are expected to be $41,470 in each quarter Prepare the selling and administrative expense budget by quarters and in total for 2017 ELBERT COMPANY Selling and Administrative Expense Budget Quarter Year Variable expenses Fixed expenses Total selling and administrative expenses $