Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses Fixed Expenses Sales commissions $10,700 Sales salaries $34,500 Advertising
The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses Fixed Expenses Sales commissions $10,700 Sales salaries $34,500 Advertising 9,950 Depreciation 6,500 Travel 6,600 Insurance 1,000 Delivery 3,350 (a) Prepare a flexible budget performance report for March, assuming that March sales were $165,000. Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 6%, traveling 4%, and delivery 2%. Fixed selling expenses will consist of sales salaries $34,500, Depreciation on delivery equipment $6,500, and insurance on delivery equipment $1,000. (List variable costs before fixed costs.)Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 Difference Favorable Unfavorable Neither Favorable Budget Actual nor Unfavorable S $ $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started