Question 2 OT 3 View Policies Current Attempt in Progress 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. Sales: 19,900 units in quarter 1: 21,500 units in quarter 2 2. Variable costs per dollar of sales: sales commissions 5%; delivery expense 2%; and advertising 4% 3. Fixed costs per quarter: sales salaries $10,300; office salaries $7,400; depreciation $3,900; insurance $1,600; utilities $700; and repairs expense $500 4. Unit selling price: $18 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 1 2 Total $ $ Budgeted Sales Prepare a selling and administrative expenses budget by quarters for the hrst six months of 2020. LOCKWOOD COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2020 Total 2 1 $ Budgeted Sales $ Operating Expenses Variable Expenses $ ta $ LA Total Selling and Administrative Expense