Thi Scannell, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2018, follow: (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Scannell's selling and administra (Click the icon to view the e- Prepare a selling and administra nine-month period. Nine Months Ended September 30, 2018 Variable expenses: Commissions Expense Miscellaneous Expenses Total variable expenses Fixed expenses: Rent Expense Salaries Expense Depreciation Expense Total fixed expenses Total selling and administrative expenses Quarter Quarter Quarter Data ta Ended Ended March 31 June 30 Ended September 30 Nine-month Total Rent, $3,1C Salaries, $2 Commission Depreciatio Miscellaneo Prin Submit quiz d budget for the nine budget.) Scannell'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 2018 and totals for the nine-month period. Quarter Ended Data table eptember 30 Nine-month Total Rent, $3,100 per month Salaries, $2,000 per month Commissions, 5% of sales Depreciation, $800 per month Miscellaneous expenses, 2% of sales Print Done - X Time Limit: 03:00:00 Next E Reference Scannell, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 40% $ 40,000 $ 60,000 $ 50,000 $ 150,000 Credit sales, 60% 60,000 90,000 75,000 225,000 $ 100,000 $ 150,000 $ 125,000 $ 375,000 Total sales Scannell, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended Nine-Month March 31 June 30 September 30 Total $150,000 Cost of goods sold $40,000 $60,000 $50,000 Plus: Desired ending merchandise inventory $34,000 $33,000 $36,000 Total merchandise inventory required $74,000 $93,000 $86,000 Print Done