Concord Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are expected to be $20,640 in the first quarter, and $3,440 increments are expected in the remaining quarters of 2022. Fixed expenses are expected to be $34,400 in each quarter. Prepare the selling and administrative expense budget by quarters and in total for 2022. CONCORD COMPANY Selling and Administrative Expense Budget $ Quarter 2 3 $ $