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Question Help Sweeney, 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.) Sweeney'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 2018 and totals for the nine-month period. Sweeney, Inc. Selling and Administrative Expense Budget Nine Months Ended September 30, 2018 Quarter Quarter Quarter Ended Ended Ended Nine-month March 31 June 30 September 30 Total Variable expenses: Total variable expenses Fixed expenses: Total fixed expenses Total selling and administrative expenses Reference rims. Its sales budget an er 30, 2018, follow: w the sales budget and e quarters of 20 Sweeney, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended March 31 June 30 September 30 Nine-Month Selling a Nine M Total $ 52,500 $ Cash sales, 30% Credit sales, 70% 37,500 $ 87,500 45,000 $ 105,000 135,000 315,000 122,500 $ 125,000 $ Total sales 175,000 $ 450,000 150,000 $ Sweeney, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended Nine-Month March 31 June 30 September 30 Total $180,000 Cost of goods sold $50,000 $42,000 $70,000 $41,000 $60,000 $44,000 Plus: Desired ending merchandise inventory Total merchandise inventory required $92,000 $18,000 $111,000 $42,000 $104,000 $41,000 strative expenses Less: Beginning merchandise inventory enter any number in th Print Done Data Table Sel Rent, $2,700 per month Salaries, $2,500 per month Commissions, 3% of sales Depreciation, $1,600 per month Miscellaneous expenses, 2% of sales