Flexible Budget for Selling and Administrative Expenses Fuller Enterprises uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 20% of sales Customer support expense $2,150 plus 4% of sales Office salaries expense $14,000 per month Miscellaneous administrative expense $2,600 plus 3% of sales Research and development expense $1,500 per month Prepare a flexible selling and administrative expenses budget for July for sales volumes of $95,000, $120,000, and $145,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers. FULLER ENTERPRISES Flexible Selling and Administrative Expenses Budget For the Month Ending July 31 Total sales $95,000 $120,000 $145,000 Variable cost: $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 fill in the blank 6 fill in the blank 7 fill in the blank 8 fill in the blank 10 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 fill in the blank 16 Total variable cost $fill in the blank 17 $fill in the blank 18 $fill in the blank 19 Fixed cost: $fill in the blank 21 $fill in the blank 22 $fill in the blank 23 fill in the blank 25 fill in the blank 26 fill in the blank 27 fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 33 fill in the blank 34 fill in the blank 35 Total fixed cost $fill in the blank 36 $fill in the blank 37 $fill in the blank 38 Total selling and administrative expenses $fill in the blank 39 $fill in the blank 40 $fill in the blank 41

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Flexible Budget for Selling and Administrative Expenses

Fuller Enterprises uses flexible budgets that are based on the following data:

Sales commissions	8% of sales
Advertising expense	20% of sales
Customer support expense	$2,150 plus 4% of sales
Office salaries expense	$14,000 per month
Miscellaneous administrative expense	$2,600 plus 3% of sales
Research and development expense	$1,500 per month

Prepare a flexible selling and administrative expenses budget for July for sales volumes of $95,000, $120,000, and $145,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers.

FULLER ENTERPRISES
Flexible Selling and Administrative Expenses Budget
For the Month Ending July 31
Total sales	$95,000	$120,000	$145,000
Variable cost:
	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4
	fill in the blank 6	fill in the blank 7	fill in the blank 8
	fill in the blank 10	fill in the blank 11	fill in the blank 12
	fill in the blank 14	fill in the blank 15	fill in the blank 16
Total variable cost	$fill in the blank 17	$fill in the blank 18	$fill in the blank 19
Fixed cost:
	$fill in the blank 21	$fill in the blank 22	$fill in the blank 23
	fill in the blank 25	fill in the blank 26	fill in the blank 27
	fill in the blank 29	fill in the blank 30	fill in the blank 31
	fill in the blank 33	fill in the blank 34	fill in the blank 35
Total fixed cost	$fill in the blank 36	$fill in the blank 37	$fill in the blank 38
Total selling and administrative expenses	$fill in the blank 39	$fill in the blank 40	$fill in the blank 41

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