Brief Exercise 9-42. Preparing a Selling and Administrative Expenses Budget Objective 2 Example 9.8Elwood Company makes and sells plastic trash bags. In the coming year, Elwood expects total sales of $18,620,000. There is a 4% commission on sales. In addition, fixed expenses of the sales and administrative offices include the following: Salaries $796,000 Utilities 173,000 Office space Advertising 312,000 1,100,000 Required: Prepare a selling and administrative expenses budget for Elwood Company for the coming year