Consider the facts presented in E22-14. Tremonts operating expenses include the following: Rent, $2,000 a month Salary,

Question:

Consider the facts presented in E22-14. Tremont’s operating expenses include the following:
Rent, $2,000 a month
Salary, $3,000 a month
Commissions, 3% of sales
Depreciation, $1,000 a month
Miscellaneous expenses, 1% of sales
Requirement
1. Prepare an operating expenses budget for each of the three quarters of 2012 and totals for the nine-month period.