Travel 5.100'lnsurance 1,000 Delivery 3500' Instructions a. Prepare a flexible budget performance report for March using the budget data in E1121, assuming that March sales were $170,000. Expected and actual sales are the same. b. Prepare a flexible budget performance report, assuming that March sales were $180,000. Expected and actual sales are the same. c. Comment on the importance of using flexible budgets in evaluating the sales manager's performance. E:L'l.21 (L9_2) Vincent Company uses flexible budgets to control its selling expenses. Monthly sales are expected to range from $170,000 to $200,000. Variable costs and their percentage relationship to sales are as follows: sales commissions 6%; advertising 4%; travelling 3%; and delivery 2%. Fixed selling expenses consist of sales salaries $35,000; depreciation on delivery equipment $7,000; and insurance on delivery equipment $1,000. Prepare a flexible selling expenses budget. (m Instructions Prepare a monthly flexible budget for each $10,000 increment of sales within the relevant range for the year ending December 31, 2020. E11122 (L0 2) The actual selling expenses incurred in March 2020 by \cent Company are as follows: Prepare flexible budget reports for selling expenses. Variable Expenses Fixed Expenses Sales commissions $11,000 Sales salaries $35,000 Advertising l 7,000 Depreciation l 7,000