Assume a merchandising company uses the high-low method to separate any mixed costs into their variable and fixed elements. It provided the following income statements: Sales in units Sales Cost of goods sold Gross margin Selling and administrative expenses: Advertising Shipping Salaries and commissions Total selling and administrative expenses Net operating income May 4,800 $168,000 June July 5,000 $175,000 5,500 $192,500 86,400 90,000 99,000 81,600 85,000 93,500 17,000 17,000 17,000 16,800 17.500 19,250 29,600 30,000 31,000 63,400 64,500 67,250 $ 18,200 $ 20,500 $ 26,250 Q) What is the total estimated selling and administrative expense if the company sells 5,180 units? Multiple Choice $60,690