A listing of budgeted selling and administrative expenses for Glide Tire Company in P7-2 for the year ended December 31, 2008, were as follows:
|
Advertising expense |
942,000 |
|
Office rent expense |
125,000 |
|
Office salaries expense |
821,000 |
|
Office supplies expense |
45,500 |
|
Officer’s salaries expense |
661,000 |
|
Sales salaries expense |
988,000 |
|
Telephone and fax expense |
33,500 |
|
Travel expense |
443,000 |
Required:
1. Prepare a selling and administrative expenses budget, in good form, for the year 2008.