Below is some budget information for the Sock Maker Company for January Year 3: Sales $ 1,000,000 Cost of goods sold 720,000 Utilities expense 7,000 Administrative salaries 90,000 Sales commissions 5% of sales Advertising 20,000 Depreciation on store equipment 42,000 Rent on administration building 70,000 Miscellaneous administrative expenses 5,000 All operating expenses are paid in cash in the month incurred. Compute the total budgeted selling and administrative expenses (excluding interest) amount for January Year 3. O $284,000 O $222,000 O $242,000 $234,000 O $1,004,000