Answer the following statements true (T) or false (F)
1. For a merchandising company, the selling and administrative expense budget separates fixed and
variable expenses.
2. When preparing the selling and administrative expense budget, there is no need for a merchandising
company to separate mixed costs into the fixed and variable components.
3. The financial budget of a merchandising company is similar to that of a manufacturing company.
4. When a merchandiser calculates the budgeted cash payments for selling and administrative expenses,
noncash expenses like depreciation are also considered.
1. TRUE
2. FALSE
When preparing the selling and administrative expense budget, mixed costs must be
separated into the fixed and variable components.
3. TRUE
4. FALSE
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