Skaff, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2016, follow: Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Skaff's selling and administrative expenses include the following: EEB (Click the icon to view the expenses.) Prepare a selling and administrative expense budget for each of the three quarters of 2016 and totals for the nine-month period. Skaff, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2016 Quarter Ended March 31 Quarter Ended June 30 Quarter Ended Nine-month September 30 Total Variable expenses Total variable expenses Fixed expenses Total fixed expenses Total selling and administrative expenses Skaff, Inc. Sales Budget Nine Months Ended September 30, 2016 Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 40% Credit sales, 60% Total sales S 56,000$76,000 S 66,000 S 99,000 65,000 198,000 297,000 495,000 84,000 114,000 $ 140,000 $ 190,000 S Skaff, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2016 Quarter Ended Quarter Ended Quarter Ended Nine-Month Data Table March 31 June 30 September 30 Total 66,000 $ 17,600 83,600 14,600 69,000 198,000 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases 56,000 $ 15,600 76,000 S 14,600 Rent, $1,600 per month Salaries, $5,000 per month Commissions, 2% of sales Depreciation, $1,300 per month Miscellaneous expenses, 1% of sales 71,600 $ 18,000 90,600 S 15,600 53,600 $ 75,000 S PrintDone Print Done