Question

Question 2 --/1 View Policies Current Attempt in Progress Crede Company budgeted selling expenses of $29,500 in January, $35,600 in February, and $39,300 in March. Actual selling expenses were $31,200 in January, $35,110 in February, and $46,400 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 Вy Month Year-to-Date Difference Budget Difference Actual Actual $ $ $ $ $ 31200 1700 Favorable 29500 $ $ $ $ Neither favorable nor unfavorable 35110 490 $ $ $ $ $ 7100 46400 Favorable eTextbook and Media tA tA tA

Need help with year to date

Answer 1

CREDE COMPANY
Selling Expense Report
For the Quarter Ending March 31
By Month
Month	Budget	Actual	Difference		Budget	Actual	Difference
January	$29,500	$31,200	$1,700	Unfavorable	$29,500	$31,200	$1,700	Unfavorable
February	$35,600	$35,110	$490	Favorable	$65,100 [$29,500 + $35,600]	$66,310 [$31,200 + $35,110]	$1,210	Unfavorable
March	$39,300	$46,400	$7,100	Unfavorable	$104,400 [$29,500 + $35,600 + $39,300]	$112,710 [$31,200 + $35,110 + $46,400]	$8,310	Unfavorable

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Note:

If the actual expense is more than the budgeted expense then the variance (Budgeted expense - Actual expense) is considered as Unfavorable.

If the actual expense is less than the budgeted expense then the variance (Budgeted expense - Actual expense) is considered as Favorable.