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The actual selling expenses incurred in March 2020 by Sheffield Company are as follows. Variable Expenses Fixed Expenses Sales commissions $11,180 $11,180 Sales salaries Sales salaries $35,500 Advertising 10,530 Depreciation 7,400 Travel 6,920 Insurance 1,100 Delivery 3,580 (a) Prepare a flexible budget performance report for March, assuming that March sales were $173,000. 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 $35,500, Depreciation on delivery equipment $7,400, and insurance on delivery equipment $1,100. (List variable costs before fixed costs.) SHEFFIELD COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 Differer Favoral Unfavora Neither Fav nor Unfave Budget Actual Sales Variable Expenses Advertising $ $ Travel Delivery Total Variable Expenses Fixed Expenses Sales Salaries Depreciation Insurance Total Expenses Total Fixed Expenses Total Expenses (b) Prepare a flexible budget performance report, assuming that March sales were $180,500. (List variable costs before fixed costs.) SHEFFIELD COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual $ $

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