Exercise 8-6 (Static) Selling and Administrative Expense Budget (LO8-7] Weller Company's budgeted unit sales for the upcoming fiscal year are provided below: Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 15,000 16,000 14,000 13,000 The company's variable selling and administrative expense per unit is $2.50. Fixed selling and administrative expenses include advertising expenses of $8,000 per quarter, executive salaries of $35,000 per quarter, and depreciation of $20,000 per quarter. In addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property taxes of $8,000 will be paid in the second quarter. Required: Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2 decimal places.) Answer is not complete. Weller Company Selling and Administrative Expense Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted unit sales Variable selling and administrative expense per unit Variable selling and administrative expense Fixed selling and administrative expenses: Advertising Executive salaries Depreciation Insurance Property taxes Total fixed selling and administrative expenses Total selling and administrative expenses Less: Depreciation Cash disbursements for selling and administrative expenses
Exercise 8-6 (Static) Selling and Administrative Expense Budget (LO8-7] Weller Company's budgeted unit sales for the upcoming fiscal year are provided below: Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 15,000 16,000 14,000 13,000 The company's variable selling and administrative expense per unit is $2.50. Fixed selling and administrative expenses include advertising expenses of $8,000 per quarter, executive salaries of $35,000 per quarter, and depreciation of $20,000 per quarter. In addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property taxes of $8,000 will be paid in the second quarter. Required: Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2 decimal places.) Answer is not complete. Weller Company Selling and Administrative Expense Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted unit sales Variable selling and administrative expense per unit Variable selling and administrative expense Fixed selling and administrative expenses: Advertising Executive salaries Depreciation Insurance Property taxes Total fixed selling and administrative expenses Total selling and administrative expenses Less: Depreciation Cash disbursements for selling and administrative expenses
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
None
![Exercise 8-6 (Static) Selling and Administrative Expense Budget (LO8-7]
Weller Company's budgeted unit sales for the upcoming fiscal year are provided below:
Budgeted unit sales
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
15,000
16,000
14,000
13,000
The company's variable selling and administrative expense per unit is $2.50. Fixed selling and administrative expenses include
advertising expenses of $8,000 per quarter, executive salaries of $35,000 per quarter, and depreciation of $20,000 per quarter. In
addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property
taxes of $8,000 will be paid in the second quarter.
Required:
Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2
decimal places.)
Answer is not complete.
Weller Company
Selling and Administrative Expense Budget
1st Quarter
2nd Quarter
3rd
Quarter
4th
Quarter
Year
Budgeted unit sales
Variable selling and administrative expense per unit
Variable selling and administrative expense
Fixed selling and administrative expenses:
Advertising
Executive salaries
Depreciation
Insurance
Property taxes
Total fixed selling and administrative expenses
Total selling and administrative expenses
Less: Depreciation
Cash disbursements for selling and administrative expenses](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F91b37406-6240-4469-bb01-67612500f22f%2Fe178481f-f2a5-4816-8597-6510b60f42e4%2Fv10d17r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 8-6 (Static) Selling and Administrative Expense Budget (LO8-7]
Weller Company's budgeted unit sales for the upcoming fiscal year are provided below:
Budgeted unit sales
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
15,000
16,000
14,000
13,000
The company's variable selling and administrative expense per unit is $2.50. Fixed selling and administrative expenses include
advertising expenses of $8,000 per quarter, executive salaries of $35,000 per quarter, and depreciation of $20,000 per quarter. In
addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property
taxes of $8,000 will be paid in the second quarter.
Required:
Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2
decimal places.)
Answer is not complete.
Weller Company
Selling and Administrative Expense Budget
1st Quarter
2nd Quarter
3rd
Quarter
4th
Quarter
Year
Budgeted unit sales
Variable selling and administrative expense per unit
Variable selling and administrative expense
Fixed selling and administrative expenses:
Advertising
Executive salaries
Depreciation
Insurance
Property taxes
Total fixed selling and administrative expenses
Total selling and administrative expenses
Less: Depreciation
Cash disbursements for selling and administrative expenses
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education