Slate, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2024, follow (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Slate's selling and administrative expenses include the following (Click the icon to view the expenses.) Prepare a selling and administrative expense budget for each of the three quarters of 2024 and totals for the nine-month period Ended Ended Ended Nine-month March 31 June 30 September 30 Total Variable expenses: Total variable expenses Fixed expenses: Total fixed expenses Total selling and administrative expenses nce & Slate, Inc. Sales Budget Nine Months Ended September 30, 2024 Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 20% $ 28,000 $ 38,000 $ 33.000 $ 99,000 112,000 152.000 Credit sales, 80% 132,000 396.000 $ 140,000 $ 190.000||$ 165,000 $ 495,000 Total sales Slate, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2024 Mine Mo Sales Slate, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2024 Quarter Ended Quarter Ended Quarter Ended Nine Month March 31 June 30 September 30 Cost of goods sold Total $198,000 $56,000 $76,000 $66,000 Plus: Desired ending merchandise inventory $12,600 $11,600 $14,600 Total merchandise Inventory required $68,600 $87,600 $80,600 Less Beginning merchandise inventory $38.000 $12,600 $11,600 $30,600 $75,000 Budgeted purchases $69.000 Data table Rent, $2,000 per month Salaries, $4,000 per month Commissions, 5% of sales 8 Depreciation, $1,000 per month Miscellaneous expense 2% of sales X quarters led ber 30