Selling and Administrative Expense Budget. Foster Company has gathered the following information for the month of July, 20X1: Sales: $200,000 Sales commissions: 10% of sales Advertising expenses:...

Selling and Administrative Expense Budget. Foster Company has gathered the following information for the month of July, 20X1:

Sales: $200,000

Sales commissions: 10% of sales

Advertising expenses: $5,000+ 2% of sales

Miscellaneous selling expense: $1,000+ 1% of sales

Office salaries: $7,000

Office supplies: 0.5% of sales

Travel and entertainment: $4,000

Miscellaneous administrative expense: $1,750

Prepare a selling and administrative budget.