From the Following Details, Provided by a Merchandiser, Prepare the Selling

question 27

Essay

From the following details, provided by a merchandiser, prepare the selling and administrative expenses budget for the first quarter of the next year.
$$\begin{array} { | l | l | } \hline \text { Rent Expense } & \$ 8,000 \text { per month } \\\hline \text { Depreciation Expense } & \$ 3,500 \text { per month } \\\hline \text { Insurance Expense } & \$ 1,250 \text { per month } \\\hline \text { Miscellaneous Expense } & 2 \% \text { of sales, paid as incurred } \\\hline \text { Commissions Expense } & 10 \% \text { of sales } \\\hline \text { Salaries Expense } & \$ 7,000 \text { per month } \\\hline\end{array}$$ $$\begin{array} { | l | c | c | c | } \hline & \text { Jan } & \text { Feb } & \text { March } \\\hline \text { Sales } & \$ 50,000 & \$ 65,000 & \$ 80,000 \\\hline\end{array}$$

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Definitions:

Two Middle Scores

The median values in a data set, which are the two central numbers in an ordered sequence when the total number of observations is even.

Nominal Level

A measurement level used for categorizing data without a natural order or ranking.

Measurement Precision

The consistency and repeatability of a measurement, not necessarily accurate but consistent.

Ordinal Level

A measurement scale that categorizes data into ordered categories where the order of the values is significant, but the differences between the values are not quantitatively meaningful.