Please give steps along with the solutions, thank you!

1 Reference sales budget and inventory, purchases, and cost of goods sold budget for e nine months ended smit tember 30, 2018, follow (Cick the icon to view the sales budget and inventory, purchases, and cost of goods sold budget Quarter Ended Nine-Month March 31 June 30 September 30 Total Smith, Inc. 34,000 S 29,000 Cash sales, 20% 24,000 87,000 Selling and Administrative Expense Budget 96,000 136,000 116,000 348 000 Nine Months Ended September 30, 2018 Credil sales, 00 % 170 000 s S 120.000$ Quarter 145,000 435.000 Quarter Quarter Total sales Ended Ended Ended Nine-month Smith, Inc. March 31 June 30 September 30 Total Inventory, Purchases, and Cost of Goods Sold Budget Variable expenses: Nine Months Ended September 30, 2018 Nine-Month Qu dec Quarter Ended March 31 .. June 30 September 3 Total Total variable expenses $174.000 $58 000 Fixed expenses: Cost of goods sold S48 000 S68 000 $41,800 S40,800 $43,800 Plus: Desired ending merchendise inventory Total merchandise inventory required S89 a00 $108 800 $101.800 S35,000 S41,800 S40,800 Beginning merchandise inventory Less S54 80 S67 000 S61 000 Tolal foxed uxpenses Budgeled purchases Total selling and administrative expenses ses indlude the following s salcs budget and inventory, purchases, and cost of goods sold budget for the nine months ended S Sentember 30 2018 follow icu the ovnenses) (Click the icon to view the sales budget and inverntory, purchases, and cost of goods sold budget) each of the three quarters of 2018 and totels for the nine month period. Prepare a selling and administrative expense budget1 Smith, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2018 X Quarter Data Teble Quarter Quarter Ended Ended Ended Nine-month March 31 June 30 September 30 Total Rent. $1.600 per month Variable expenses: Salaries, $3,000 per month Commissions. 4 % of sales $1.200 per month Depreciation, Total vanable expenses Miscellaneous expenses, 1 % of sales Fixed expenses: Prinl Done Tatal fixed expenses Total selling and administrative expenses