Slattery, 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: Slattery's selling and administrative expenses include the following: (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) (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. - X Slattery, Inc. Reference Selling and Administrative Expense Budget Nine Months Ended September 30, 2024 Slattery, Inc. Quarter Quarter Quarter Sales Budget Ended Ended Ended Nine-month Nine Months Ended September 30, 2024 March 31 June 30 September 30 Total Quarter Ended Nine-Month Variable expenses: March 31 June 30 September 30 Total Cash sales, 20% $ 20,000 $ 30,000 $ 25,000 $ 75,000 Credit sales, 80% 80,000 120,000 100,000 300,000 Total variable expenses 100,000 $ 150,000 $ 125,000 $ 375,000 Total sales Fixed expenses: Slattery, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2024 Total fixed expenses Quarter Ended Quarter Ended Quarter Ended Nine-Month March 31 June 30 September 30 Total Total selling and administrative expenses $150,000 Cost of goods sold $40,000 $60,000 $50,000 - X $20,000 $23,000 Data table Plus: Desired ending merchandise inventory $21,000 Total merchandise inventory required $61,000 $80,000 $73,000 Less: Beginning merchandise inventory $16,000 $21,000 $20,000 Rent, $1,600 per month $45,000 $59,000 $53,000 Budgeted purchases Salaries, $3,800 per month Commissions, 4% of sales Depreciation, $1,700 per month Miscellaneous expenses, 2% of sales Print Done