Your answer is partially correct. 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: 2. Sales: 19,700 units in quarter 1: 22,300 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 $10,100; office salaries $7.200; depreciation $4,300; insurance $1,600; utilities $800; and repairs expense $600 Unit selling price: $21 3. 4. Prepare a selling and administrative expenses budget by quarters for the first six months of 2020