XE22-32 (similar to) Stewart, Inc., sels 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.) Stewart's seling and administrative expenses include the following (Click the icon to view the expenses.) Question Help Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals fom the nine-month period Variable expenses Stewart, Inc. Belling and Administrative Expense Budget Nina Months Ended September 30, 2018 Quarter Ended Quarter Quarter Ended Ended Nine-month March 31 June 30 September 30 Total Total variable expenses Fixed expenses: Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Check Answer 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.) Variable expenses: Total variable expenses Fixed expenses: administrative exp (Click the icon to view the expenses Prepare a selling and administrative ex the nine-month period. Ended Ended Ended Nine-month March 31 June 30 September 30 Total Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Ended End i Data Table March 31 Jun Prepare a semily and fauve - Rent, $3,100 per month Salaries, $1,000 per month Commissions, 4% of sales Depreciation, $1,400 per month Miscellaneous expenses, 2% of sales Print Done 12/20/2020 Stewart, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 20% 20,000 $ 30,000 $ 25,000 $ 75,000 80,000 120,000 100,000 300,000 Credit sales, 80% 100,000 $ 150,000 $ 125,000 $ 375,000 Total sales Stewart, 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 $150,000 Cost of goods sold $40,000 $60,000 $50,000 $41,000 $40,000 $43,000 Plus: Desired ending merchandise inventory Total merchandise inventory required $81,000 $100,000 $93,000 $17,000 $41,000 $40,000 Less: Beginning merchandise inventory $64,000 $59,000 $53,000 Budgeted purchases