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  1. business
  2. accounting
  3. quarterly general and administrative expenses incl

Quarterly general and administrative expenses include $7,000 administrative salaries, rent expense of $4,000 per quarter,...

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Accounting

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Quarterly general and administrative expenses include $7,000 administrative salaries, rent expense of $4,000 per quarter, insurance expense of $3,000 per quarter, straight- line depreciation of $3,000 per quarter, and 1% rmonthly interest on the $150,000 long-term note payable (12% annually). e. Income taxes will be assessed at 25%, and are paid in the quarter incurred. Sales Budget Budget Production Direct Mtls Direct Lbr Factory OHSelling ExpAdmin Exp Cost of Income Budget Budget BudetBudgetBudget Goods Sold Statement Requirement Prepare the selling expense budget for the Mitchell Inc.. Sales representatives' commissions are 14% of sales and are paid in the quarter of the sales. The sales manager's quarterly salary will be $16,000 in the first three quarters of the year, and $17,000 in the final quarter. Mitchell Inc. Selling Expense Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr Total Sales commissions 16,000 16,000 6,000 7,000 65,000 Total budgeted selling expenses Factory OH Budget Admin Exp Budget Prev 1 of 1Next >

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