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When Lydia started her vending machine business, she instituted flexible budgeting for the first few months of operations. Her first monthly budget numbers were these:
Cost of goods sold 200 of sales
Advertising l5% of sales
Salaries $4,000
Delivery expense 2% of sales
Rent $1,000
Insurance $200
Supplies 5% of sales
Telephone $150
Compute and list the budget figures for September, when sales were $50,000.
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Assessment Criteria: Student work will generally be assessed in terms of the following criteria: 1. Preparation of correct journal entries. 2. Accumulation of journal entr
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