Tremont, 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:

Tremont's selling and administrative expenses include the following: Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals for the nine-month period.

Tremont, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2018 Quarter Ended March 31 Quarter Ended June 30 Quarter Ended September 30 Nine-month Total Variable expenses: Total variable expenses Fixed expenses: Total fixed expenses Total selling and administrative expenses Tremont, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 30% Credit sales, 70% Total sales 45,000 S 105,000 150,000 S S 37,500S 52,500S 135,000 315,000 450,000 87,500 122,500 S 125,000 175,000S Tremont, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter EndedQuarter Ended Quarter Ended Nine-Month March 31 June 30 September 30 Total $180,000 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases $50,000 $21,000 $71,000 $17,000 $54,000 $70,000 $20,000 $90,000 $21,000 $69,000 $60,000 $23,000 $83,000 $20,000 $63,000 Data Table 1 Rent, $2,500 per month Salaries, $2,000 per month Commissions, 2% of sales Depreciation, $1,700 per month Miscellaneous expenses, 1% of sales Print Done