Total Cash sales, 30% March 31 | $ 34,500 $ 80,500 | $ 115,000 $ June 30 September 30 49,500 $ 42,000 $ 115,500 98,000 165,000 $ 140,000 $ Credit sales, 70% 126,000 294,000 420,000 Total sales Scannell, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended || Quarter Ended Quarter Ended March 31 June 30 September 30 Nine-Month Total $168,000 Cost of goods sold $46,000 $31,600 $66,000 $30,600 $56,000 $33,600 Plus: Desired ending merchandise inventory Total merchandise inventory required $77,600 $18,000 $96,600 $31,600 $89,600 $30,600 Less: Beginning merchandise inventory $59,600 $65,000 $59,000 Budgeted purchases E22-32 (similar to) is Question Help O Scannell's selling and administrative expenses include the following: (Click the icon to view the expenses.) 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.) Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals for the nine-month period. Ing LAR i Data Table Nine Months Ended September 30, 2018 Quarter Quarter Ended Ended March 31 June 30 Quarter Ended September 30 Nine-month Total Variable expenses: Commissions Expense Rent, $1,600 per month Salaries, $3,800 per month Commissions, 2% of sales Depreciation, $1,600 per month Miscellaneous expenses, 1% of sales Miscellaneous Expenses Total variable expenses Fixed expenses: Salaries Expense Print Done Rent Expense Depreciation Expense Total fixed expenses Total sellina and administrative expenses