Sales for Smith Company are expected to be $270,000 for February and $320,000 in March. The following budgeted expenses are expected 1ur Ma $31,000 per month $16,000 per month $600 per month Rent Expense Depreciation Expense Insurance Expense (prepaid for 1st quarter on January 1) Miscellaneous Expense (paid as incurred) Commissions Expense (50% paid in current month, 50% paid in following month) Salaries Expense 10% of sales 15% of sales $38,000 per month What is the expected total selling and administrative expenses for the month of March? ..... O A. $145,850 O B. $165,000 OC. $161,850 O D. $161,250

Sales for Smith Company are expected to be $270,000 for February and $320,000 in March. The following budgeted expenses are expected 1ur Ma $31,000 per month $16,000 per month $600 per month Rent Expense Depreciation Expense Insurance Expense (prepaid for 1st quarter on January 1) Miscellaneous Expense (paid as incurred) Commissions Expense (50% paid in current month, 50% paid in following month) Salaries Expense 10% of sales 15% of sales $38,000 per month What is the expected total selling and administrative expenses for the month of March? ..... O A. $145,850 O B. $165,000 OC. $161,850 O D. $161,250

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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