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AutoSave 0 H e Home ndias_module_02092020.x - Excel Insert Page Layout Formulas Calibri Data Review Views B I 11 H. J - A A - A) 19 C ard 2 Wrap Text Mergea Cente Font E22 Alignment 7% of sales 18% of sales 2 Sales Commissions CADE 3 Advertising Expense 4 Misc. selling expense 5 Office salaries expense $1,750 plus 4% of sales 6 office supplies expense $12,000 per month 5% of sales 7 Misc administrative expense $1,400 per month plus 2% of sales 9 Requirement: Prepare the selling and admin budget for Coopie Awards Coopie Awards 11 Selling and Administrative Budget For the current Year 13 Selling Expenses: 14 Sales commissions 7% 15 Advertising expenses 16 Miscellaneous selling expenses 1820 17 Total selling expenses $1,820 18 Administrative expenses: 19 Office salaries $ 144,000 20 Office supplies 78,750 21 Miscellaneous administrative expenses 48300 221 Total administrative expenses 271,050 23 Total selling and administrative expenses $272,870 Cost of Goods Sold Budget Selling and Admin Budget income Statement 18% Ready EL te s e Home insert Page Layout Calon WM A BTU-23-A-A- Clipboard ndios_module 2000 Seed Formulas Data Review View Help == . Wiap Test Merge Center - General $ % E22 - X BCD 1 The following are date for the sales and administrative budget for Coopie Awards: 2 Sales Commissions 77% of sales 3 Advertising Expense 18% of sales 4 Misc. selling expense $1,750 plus 4% of sales 5 office salaries expense $12,000 per month 6 office supplies expense 5% of sales 7 Misc administrative expense $1,400 per month plus 2% of sales 9 Requirement: Prepare the selling and admin budget for Coopie Awards Coopie Awards Selling and Adn a tive Budget For the current Year 13 Selling Expenses: 14 Sales commissions 15 Advertising expenses 18% 16 Miscellaneous selling expenses 17 Total Selling expenses $1,820 18 Administrative expenses: 19 Office salaries $ 144,000 20 Office supplies 78,750 21 Miscellaneous administrative expenses 48300 221 Total administrative expenses 271,050 osallinen - Cost of Goods Sold Budget Selling and Admin Budget 1820 income Statement Actual Result NE H ; AutoSave M Home - indias_module_2922 - Sa ed Insert Review View Help Calibri Page Layout Formulas Data 1 AA EE > - - - E - Paste BIU - Wiap Text E Merge & Center - S Clipboard Font Alignment F11 E 1 Coopie Awards pays 40% in income taxes. 3 Requirement: Prepare Coopie Awards' budgeted income statement Coopie Awards Budgeted Income Statement For the current year 8 Sales Revenue $1,575,000 9 Cost of Goods sold 1386680 10 Gross Profit $188,320 11 Selling and administrative expenses 272870 12 Income from operations ($84,550) 13 Income Tax -33820 14 Net Income ($50,730) Cost of Goods Sold Budget Selling and Admin Budget Income statement