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ht6 - Chapter 10 Question 2 of 3 - /16 Lockwood Company combines its operating expenses for budget purposes in a selling and administrative expenses budget. For the first six months of 2020, the following data are available: 1. 2. 3. Sales: 20,100 units in quarter 1: 22.000 units in quarter 2 Variable costs per dollar of sales: sales commissions 5%: delivery expense 2%; and advertising 4% Fixed costs per quarter: sales salaries $9,600; office salaries $8.300: depreciation $4,400; insurance $1.500; utilities $900: and repairs expense $400 Unit selling price: $21 4. Prepare a selling and administrative expenses budget by quarters for the first six months of 2020. LOCKWOOD COMPANY Selling and Administrative Expenses Budget Prepare a selling and administrative expenses budget by quarters for the first six months of 2020 LOCKWOOD COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2020 2 Total $ $ $ $