Question

Crede Company budgeted selling expenses of $29,200 in January, $34,400 in February, and $39,800 in March. Actual selling expenses were $30,500 in January, $33,970 in February, and $47,600 in March. The company considers any difference that is less than 5% of the budgeted amount to be immaterial.

Prepare a selling expense report that compares budgeted and actual amounts by month and for the year to date.

CREDE COMPANY Selling Expense Report For the Quarter Ending March 31

By Month

Year-to-Date

Month

Budget

Actual

Difference

Budget

Actual

Difference

January

$

$

$

FavorableUnfavorableNeither favorable nor unfavorable

$

$

$

FavorableUnfavorableNeither favorable nor unfavorable

February

$

$

$

FavorableUnfavorableNeither favorable nor unfavorable

$

$

$

FavorableUnfavorableNeither favorable nor unfavorable

March

$

$

$

Answer 1