Sullivan, 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.) Sullivan'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. Variable expenses: Total variable expenses Fixed expenses: Sullivan, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2024 Total fixed expenses Total selling and administrative expenses Quarter Ended Quarter Ended March 31 June 30 Quarter Ended September 30 Nine-month Total Reference Sullivan, Inc. Sales Budget Nine Months Ended September 30, 2024 Quarter Ended Data table 168,000 Rent, $3,200 per month Salaries, $1,500 per month Commissions, 5% of sales Depreciation, $1,600 per month Miscellaneous expenses, 3% of sales March 31 June 30 September 30 Nine-Month Total Cash sales, 40% $ 46,000 $ 66,000 $ 56,000 $ 69,000 Credit sales, 60% 99,000 84,000 252,000 $ 115,000||$ 165,000 $ 140,000||$ 420,000 Total sales Sullivan, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2024 Quarter Ended Quarter Ended Quarter Ended March 31 June 30 September 30 Nine-Month Total $168,000 Cost of goods sold $46,000 $66,000 $56,000 Plus: Desired ending merchandise inventory $14,600 $13,600 $16,600 Total merchandise inventory required $60,600 $79,600 $72,600 $15,000 Less: Beginning merchandise inventory Budgeted purchases $14,600 $13,600 $45,600 $65,000 $59,000 Print Done Print Done