Bates & Hill Fabricators’ marketing department has identified the following monthly expenses that will be needed to support the company’s sales and administrative functions. In addition to these monthly expenses, the company will pay a commission to its salespeople equal to 8% of the sales revenue from each brick sold. The company expects bad debt expense to be 2% of sales revenue.
Depreciation . . . . . . . . . . . . . . $14,000
Sales staff salaries . . . . . . . . . . . . . . $27,000
Advertising . . . . . . . . . . . . . . $2,500
Executive salaries . . . . . . . . . . . . . . $38,000
Miscellaneous . . . . . . . . . . . . . . $1,900
Required
Prepare Bates & Hill’s selling and administrative expense budget for the first quarter of the coming year.
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