Jezaret, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2018, follow: (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Jezaret's selling and administrative expenses include the following: (Click the icon to view the expenses.) Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals for the nine-month period. Data Table Jezaret, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2018 Quarter Quarter Ended Ended Quarter Ended Nine-month March 31 June 30 September 30 Total Rent, $2,500 per month Salaries, $2,500 per month Commissions, 5% of sales Depreciation, $1,300 per month Miscellaneous expenses, 2% of sales Variable expenses: Total variable expenses Print Done Fixed expenses: Total fixed expenses Total selling and administrative expenses Reference Jezaret, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 June 30 September 30 Total $ 36,000 $ 51,000 $ 43,500 $ 130,500 84,000 119,000 101,500 304,500 $ 120,000 $ 170,000 $ 145,000 $ 435,000 Cash sales, 30% Credit sales, 70% Total sales Jezaret, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended March 31 June 30 September 30 Nine-Month Total $174,000 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required $48,000 $16,800 $68,000 $15,800 $58,000 $18,800 $83,800 $64,800 C10 nnn $76,800 16 Ann 15 Ann