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3 May, 12:01

n addition to these monthly expenses, the company will pay a commission to its salespeople equal to 4% of the sales revenue from each brick sold. The company expects bad debt expense to be 3% of sales revenue. Prepare Oriole & Hill's selling and administrative expense budget for the first quarter of the coming year.

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  1. 3 May, 12:51
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    Selling and Administrative Expense budget for first quarter

    Details Jan Feb Mar total

    Depreciation $6,100 $6,100 $6,100 $18,300

    Office staff Salaries $15,250 $15,250 $15,250 $45,750

    Advertising $610 $610 $610 $1,830

    Executive Salaries $6,100 $6,100 $6,100 $18,300

    miscellaneous $305 $305 $305 $915

    Commission (sales*3%) $3,294 $6,423 $5,765 $15,482

    Bad Debt Expense $2,196 $4,282 $3,843 $10,321

    (sales * 2%)

    Total $33,855 $39,070 $37,973 $110,898

    Sales = bricks * selling price of $9

    Explanation:

    The question is incomplete. below is a complete questions although the 4% commission is 3% and the 3% bad debt expense is 2% on this question.

    Question: Crane & Hill Fabricators produces commemorative bricks that organizations use for fundraising ...

    Crane & Hill Fabricators produces commemorative bricks that organizations use for fundraising projects. Aaron Crane, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $9 each.

    January

    February

    March

    April

    May

    June

    12,200

    23,790

    21,350

    29,000

    23,000

    20,000

    Crane & Hill Fabricators' marketing department has identified the following monthly expenses that will be needed to support the company's sales and administrative functions.

    Depreciation

    $6,100

    Sales staff salaries

    $15,250

    Advertising

    $610

    Executive salaries

    $6,100

    Miscellaneous

    $305

    In addition to these monthly expenses, the company will pay a commission to its salespeople equal to 3% of the sales revenue from each brick sold. The company expects bad debt expense to be 2% of sales revenue.

    Prepare Crane & Hill's selling and administrative expense budget for the first quarter of the coming year.
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