Scannell, 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.) Scannell's selling and administrative expenses include the following (Click the icon lo viow the expenses.) Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals for the nine-month period. G Nine Months Liided September 30, 2018 Quarter Quarter Ended Ended March 31 June 30 Quarter Ended September 30 Nine.month Total 30 ml ba Variable expenses Commissions Expense Miscellaneous Expenses Total variable expenses Fixed expenses Rent Expense Salaries Expose Depreciation Expense w Total fixed expenses Total seling and administrative expenses Scannell, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 June 30 September 30 Total $ 33,000 $ 48,000 $ 40 500$ 121500 77,000 112.000 94,500 283 500 110,000 $ 160,000 135,000 $ 485.000 Cash sales, 30% Credit sales, 70% Total sales Scannell, 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 $162,000 Cost of goods sold $44.000 $20,400 564,000 $19,400 54.000 $22 400 Desired onding merchandise Inventory Scannell, 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 $162.000 $44,000 $20,400 $64.000 $19,400 554 000 522 400 Cost of goods sold Plus Desired ending merchandise inventory Total merchandise inventory required Less Beginning merchandise inventory 576400 $64,400 $32,000 $83.400 $20,400 $19 100 $32.400 $63,000 $57.000 Budgeted purchases a selline and Data table - X Rent, $1,200 per month Salaries, $1,500 per month Commissions, 2% of sales Depreciation, $1,600 per month Miscellaneous expenses, 1% of sales