(Answered) Problem - the following budget information relates to the x

Accounting

Problem - The following budget information relates to the X Company. For the year of 2017, the following data are developed:

1. Sales: 60,000 units; unit selling price: $50

2. Variable costs per dollar of sales:

Sales commissions 5%

Delivery expense 1%

Utilities 4%

3. Fixed costs per year:

Office salaries $36,000

Rent 20,000

Depreciation 5,000

Insurance 3,000

Interest 1,000

Instructions - Prepare a selling and administrative expense budget for the year.

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