View Policies Current Attempt in Progress Lockwood Company combines its operating expenses for budget purposes in a selling and administrative expenses budget. For the first six months of 2020, the following data are available: 1. Sales: 20,100 units in quarter 1; 21,500 units in quarter 2 2. Variable costs per dollar of sales: sales commissions 5%; delivery expense 2%; and advertising 4% 3. Fixed costs per quarter: sales salaries $10,800; office salaries $7,600; depreciation $3,800; insurance $1,500; utilities $900; and repairs expense $600 4. Unit selling price: $19 Prepare a selling and administrative expenses budget by quarters for the first six months of 2020. LOCKWOOD COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2020 Total Save for Later Attempts: 0 of 1 used Submit