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5. Neeley Company combines its operating expenses for budget purposes in a selling and administrative...

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Question

Accounting

5. Neeley Company combines its operating expenses for budget purposes in a selling and administrative expense budget. For the first quarter of 20CY, the following data is developed:

1. Sales: 20,000 units; unit selling price: $35

2. Variable costs per dollar of sales:

Sales commissions 6%

Delivery expense 2%

Advertising 4%

3. Fixed costs per quarter:

Sales salaries $24,000

Office salaries 17,000

Depreciation 6,000

Insurance 2,000

Utilities 1,000

Instructions

Prepare a selling and administrative expense budget for the first quarter of 20CY.

Answer & Explanation Solved by verified expert
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