Question

Concord Company budgeted selling expenses of ( $ 34,200 ) in January, ( $ 39,900) in February, and ( $ 45,600 ) in March. Actual selling expenses were ( $ 35,500 ) in January, ( $ 39,350 ) in February, and ( $ 44,750 ) in March.

Answer 1

The subject at hand deals with comparing budgeted and actual selling expenses for a company, a topic typically covered in business, managerial accounting, or finance studies at the college level.

Step-by-step explanation:

The question relates to the comparison of budgeted and actual selling expenses for Concord Company over a three-month period. It asks to define budgeted versus actual expenses, which is a common exercise in managerial accounting or finance.

For January, the budgeted selling expenses were $34,200, while the actual expenses were $35,500. In February, the budget was $39,900, and the actual was $39,350. March had a budget of $45,600 with actual expenses of $44,750. To evaluate the company's financial performance, one would compare these budgeted to actual figures to determine variances, which can help in analyzing operational efficiency.

When creating budgets, companies often estimate expenses based on historical data and expected future changes. Real-life numbers, such as $17,147.51 or $27,654.92, represent actual amounts spent which may differ from rounded budget estimates due to unforeseen circumstances influencing the actual spending.