The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses Sales commissions $10,700 Sales salaries 9,950 Depreciation Advertising Travel Delivery Fixed Expenses 6,600 Insurance 3,350 V (a) Prepare a flexible budget performance report for March, assuming that March sales were $165,000. Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 6%, traveling 4%; delivery 2%. Fixed selling expenses will consist of sales salaries $34,500, Depreciation on delivery equipment $6,500, and insurance on delivery equipment $1,000. (List variable costs before fixed costs.) $34,500 6,500 1,000 Budget FALLON COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 $ $ Actual Difference Favorable Unfavorable Neither Favorable nor Unfavorable

The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses Sales commissions $10,700 Sales salaries 9,950 Depreciation Advertising Travel Delivery Fixed Expenses 6,600 Insurance 3,350 V (a) Prepare a flexible budget performance report for March, assuming that March sales were $165,000. Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 6%, traveling 4%; delivery 2%. Fixed selling expenses will consist of sales salaries $34,500, Depreciation on delivery equipment $6,500, and insurance on delivery equipment $1,000. (List variable costs before fixed costs.) $34,500 6,500 1,000 Budget FALLON COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 $ $ Actual Difference Favorable Unfavorable Neither Favorable nor Unfavorable

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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