Stewart Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2014, follow: Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Stewart's selling and administrative expenses include: Click the Icon to view the expenses.) Prepare a seling and administrative expense budget for each of the three quarters of 2014 and totals for the nine-month period. Stewart, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2014 Quarter Quarter Quarter Ended Ended Ended Nine-month March 31 June 30 September 30 Total Variable expenses Commissions Expense $ 7,500 $ 10.000 8,750 $ 26,250 Miscellaneous Expenses 4,500 6,000 3.250 15,750 Total variable expenses 5 12,000 $ 18.000 $ 14.000 5 42,000 Fixed expenses: Rent Expense Salaries Expanse Depreciation Expense Total food expenses Total selling and administrative expenses d.coelot Data Table Stewart, Inc. Sales Budget Nine Months Ended September 30, 2014 Quarter Ended March 31 June 30 September 30 $ 45,000 $ 60,000 $ 52,500 $ 105,000 140,000 122,500 $ 150,000 $ 200,000 $ 175,000 $ Nine-Month Total Cash sales, 30% Credit sales, 70% 157,500 367,500 525,000 Total sales Stewart, Inc. Inventory, Purchases, and cost of Goods Sold Budget Nine Months Ended September 30, 2014 Quarter Ended Quatter Ended Quarter Ended March 31 June 30 September 30 Cost of goods sold $ 60,000 $ 80,000 $ 70,000 $ Plus Desired ending merchandise inventory 36,000 35,000 38,000 Total merchandise Inventory required $ 98,000 $ 115.000 $ 100 000 Loss Beginning merchandise Inventory 15,000 38,000 35.000 Budgeted purchases 81,000 $ 79,000 $ 73,000 Nine-Month Total 210,000 Print Dono X i Data Table Rent, $31,000 a month Salaries, $4,000 a month Commissions, 5% of sales Depreciation, $800 a month Miscellaneous expenses, 3% of sales Print Done