# Sullivan, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold...

###### Question:

Sullivan, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2016, follow: (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Sullivan's selling and administrative expenses include the following 囲(Click the icon to view the expenses.) Prepare a selling and administrative expense budget for each of the three quarters of 2016 and totals for the nine-month period Sullivan, Inc Selling and Administrative Expense Budget Nine Months Ended September 30, 2016 Quarter Ended March 31 Data Table Quarter Ended June 30 September 30 Quarter Ended Nine-month Rent, $1,500 per month Salaries,$5,000 per month Commissions, 4% of sales Depreciation, $1,100 per month Miscellaneous expenses, 3% of sales Total Variable expenses Total variable expenses Fixed expenses Print Done Fixed expenses: Total fixed expenses Total selling and administrative expenses Sullivan, Inc. Sales Budget Nine Months Ended September 30, 2016 Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 20% Credit sales, 80% Total sales 31,000$ 124,000 155,000 26,000S 36,000 $93,000 372,000 465,000 104,000 144,000$130,000$180,000$
Sullivan, Inc Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2016 Quarter Ended Quarter Ended Quarter Ended Nine-Month March 31 June 30 September 30 Total 52,000$27,200 79,200$ 20,000 59,200 $62,000$ 29,200 91,200 26,200 65,000 186,000 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases 72,000 26,200 98,200 $27,200 71,000$

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