Oarded September 30, 2018, foll udgel and inventory, purchases, and cost of goods scld budget for the nine months Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) rises include the following: Tre Click the icon to visu the axreneee Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals periad r the nine-morth Tremont, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2018 Quarter Quarter Quarter Ended Ended Ended Nine-month March 31 June 30 Total September 30 Variable expenses: Total variable expenses Fixed expenses: Tolal fixed expenses Tolal selling and administrative expenses Reference Tremont, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 September 30 June 30 Total 36,000| $ 31,000 $ 41,000 $ Cash sales, 20% 108,000 124,000 164,000 144,000 432,000 Credit sales, 80% 180,000 $ 155,000 $ 205,000| $ $ 540,000 Total sales Tremont, Inc. Inventory,Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended Nine-Month March 31 June 30 September 30 Total $216,000 $82,000 $72,000 Cost of goods sold $62,000 $27,200 $30,200 $28,200 Plus: Desired ending merchandise inventory $109,200 $102,200 $90,200 Total merchandise inventory required $27,200 $28,200 $17,000 Less: Beginning merchandise inventory $81,000 $73,200 $75,000 Budgeted purchases Print Done X - X Data Table Rent, $1,000 per month Salaries, $3,500 per month Commissions, 2% of sales Depreciation, $1,600 per month Miscellaneous expenses, 1% of sales Print Done