Tremont, 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.) Tremont'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. Quarter Nine-month Ended September 30 Total Selling and Administrative Expense Budget Nine Months Ended September 30, 2024 Quarter Quarter Ended Ended March 31 June 30 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 Nine Months Ended September 30, 2024 Quarter Ended Nine-Month March 31 June 30 September 30 Total $ 39,000 $ 54,000 $ 46,500 $ 139,500 91,000 126,000 108,500 325,500 $ 130,000 $ 180,000 $ 155,000 $ 465,000 Cash sales, 30% Credit sales, 70% Total sales Tremont, 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 Cost of goods sold $52,000 $72,000 $62,000 Plus: Desired ending merchandise inventory $35,200 $34,200 $37,200 Total merchandise inventory required $87,200 $106,200 $99,200 $20,000 $35,200 $34,200 Less: Beginning merchandise inventory $67,200 $71,000 $65,000 Budgeted purchases Nine-Month Total $186,000 Data Table Rent $1,200 per month Salaries, $5,000 per month Commissions, 2% of sales Depreciation, $800 per month Miscellaneous expenses, 1% of sales