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Managerial Accounting Homework:ch 22 Score: 0.14 of 1 pt E22-32 (similar to) 12 of 14 (13 comple Stewart, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months Stewart ended September 30, 2018, follow: (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) (Clic Prepare period. Stewart, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2018 Quarter Quarter Ended Ended March 31 June 30 Quarter Ended September 30 Nine-month Total Variable expenses: Commissions Expense Miscellaneous Expenses Total variable expenses Fixed expenses: Salaries Expense Rent Expense Depreciation Expense Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All omework: ch 22 re: 0.14 of 1 pt 12 of 14 (13 complete) Reference Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 June 30 September 30 T otal 36,000 $ 51,000 $ 43,500 $ 130,500 84,000 119,000 101,500 304,500 $ 120,000 $ 170,000 S 145,000 $ 435,000 Cash sales, 30% Credit sales, 70% Total sales Stewart, 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 $58,000 $28,800 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases $48,000 $26,800 $74,800 $20,000 $54,800 $68,000 $25,800 $93,800 $26,800 $67,000 $86,800 $25,800 $61,000 Print Done HW Score: 79.54%, 11.1 3 Question live expepen xpenses. 0 ative expo Data Table totals for the Rent, $2,700 per month Salaries, $2,500 per month Commissions, 5% of sales Depreciation, $1,800 per month Miscellaneous expenses, 3% of sales Print Done Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals for the nine-month period