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.