Consider the facts presented in Exercise E22A- 32. Tremonts selling and administrative expenses include the following: Rent,
Question:
Consider the facts presented in Exercise E22A- 32. Tremont’s selling and administrative expenses include the following:
Rent, $ 2,000 per month
Salaries, $ 3,000 per month
Commissions, 3% of sales
Depreciation, $ 1,000 per month
Miscellaneous expenses, 1% of sales
Prepare a selling and administrative expense budget for each of the three quarters of 2014 and totals for the nine- month period.
Exercise E22A-32
Transcribed Image Text:
Quarter Ended Nine-Month Total March 31 September 30 Cash sales, 20% Credit sales, 80% Total sales June 30 34,000 136,000 $120,000 170,000 24,000 96,000 29,000 116,000 145,000 87,000 348,000 $435,000
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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