Question: The following budget information is available for the Arch Company for January 2014:
|
Sales
|
$ 860,000
|
|
Cost of goods sold
|
540,000
|
|
Freight out
|
2,800
|
|
Administrative salaries
|
100,000
|
|
Sales commissions
|
5% of sales
|
|
Advertising
|
20,000
|
|
Depreciation on store equipment
|
50,000
|
|
Rent on administration building
|
60,000
|
|
Miscellaneous administrative expenses
|
10,000
|
All operating expenses are paid in cash in the month incurred. Compute total budgeted selling and administrative expenses (excluding interest) amount for January 2014.