Consider the facts presented in E22-14. Tremont’s operating

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E22-15 Preparing an operating budget [15–20 min]
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.