Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information Quarter 1 Quarter 2 74,000 Quarter 3 37,000 Quarter 4 74,000 Budgeted Unit Sales 47,000 . Each T-shirt is expected to sell for $2:2 . The purchasing manager buys the T-shirts for $9 each . The company needs to have enough T-shirts on hand at the end of each quarter to fill 32 percent of the next quarter's sales demand . Selling and administrative expenses are budgeted at $94,000 per quarter plus 10 percent of total sales revenue Required 1. Determine budgeted sales revenue for each quarter Quarter 1 Quarter 2 Quarter 3 Budgeted Sales Revenue 2. Determine budgeted cost of merchandise purchased for each quarter Quarter1 Quarter 2 Quarter3 Budgeted Cost of Merchandise Purchased 3. Determine budgeted cost of good sold for each quarter. Quarter1 Quarter 2 Quarter3 Budgeted Cost of Goods Sold