Please answer in text form without image Crane Co. uses flexible budgets to control its selling expenses. Monthly sales are expected to be from $302,000 to $362,000. Variablecosts and their percentage relationships to sales are:Sales commissions 5%Advertising=TravelingDelivery4%Sales commissions7%Fixed selling expenses consist of sales salaries $42,000 and depreciation on delivery equipment $12,000.AdvertisingTravelingDelivery1%The actual selling expenses incurred in February, 2022, by Crane are as follows:$17,30012,07023,8402,410Fixed selling expenses consist of sales salaries $43,700 and depreciation on delivery equipment $12,000.Prepare a flexible budget performance report assuming that February sales were $332,000. (List variable expenses before fixed expenses.)

Flexible budget performance report, the flexible budget is prepared using the actual level of…

Fixed selling expenses consist of sales salaries $42,000 and depreciation on delivery equipment $12,000. The actual selling expenses incurred in February, 2022, by Crane are as follows: Sales commissions Advertising Traveling Delivery $17,300 12,070 23,840 2,410 Fixed selling expenses consist of sales salaries $43,700 and depreciation on delivery equipment $12,000. Prepare a flexible budget performance report assuming that February sales were $332,000. (List variable expenses before fixed expenses.)

Fixed selling expenses consist of sales salaries $42,000 and depreciation on delivery equipment $12,000. The actual selling expenses incurred in February, 2022, by Crane are as follows: Sales commissions Advertising Traveling Delivery $17,300 12,070 23,840 2,410 Fixed selling expenses consist of sales salaries $43,700 and depreciation on delivery equipment $12,000. Prepare a flexible budget performance report assuming that February sales were $332,000. (List variable expenses before fixed expenses.)

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...

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Concept explainers

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.

Question

Please answer in text form without image

Crane Co. uses flexible budgets to control its selling expenses. Monthly sales are expected to be from $302,000 to $362,000. Variable
costs and their percentage relationships to sales are:
Sales commissions 5%
Advertising
=
Traveling
Delivery
4%
Sales commissions
7%
Fixed selling expenses consist of sales salaries $42,000 and depreciation on delivery equipment $12,000.
Advertising
Traveling
Delivery
1%
The actual selling expenses incurred in February, 2022, by Crane are as follows:
$17,300
12,070
23,840
2,410
Fixed selling expenses consist of sales salaries $43,700 and depreciation on delivery equipment $12,000.
Prepare a flexible budget performance report assuming that February sales were $332,000. (List variable expenses before fixed expenses.)

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