Sweeney, 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:

Prepare a selling and administrative expense budget for each of the three quarters of 2024 and totals for the nine-month period.

Data Table Sweeney, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2024 Quarter Quarter Ended Ended March 31 June 30 Quarter Ended Nine-month Total September 30 Rent, $1,200 per month Salaries, $4,500 per month Commissions, 3% of sales Depreciation, $1,700 per month Miscellaneous expenses, 1% of sales Variable expenses: Total variable expenses Fixed expenses: Print Done Total fixed expenses Total selling and administrative expenses Sales Budget Nine Months Ended September 30, 2024 Quarter Ended Nine-Month March 31 June 30 September 30 Total $ 33,000 $ 48,000 $ 40,500 $ 121,500 77,000 112,000 94,500 283,500 $ 110,000 $ 160,000 $ 135,000 $ 405,000 Cash sales, 30% Credit sales, 70% Total sales Sweeney, 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 $162,000 $44,000 $21,400 $64,000 $20,400 $54,000 $23,400 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases $65,400 $15,000 $84,400 $21,400 $77,400 $20,400 $50,400 $63,000 $57,000