Ivanhoe Company classifies its selling and administrative expenses budget into variable and fixed components. It expects variable expenses to be $26,400 in the first quarter, and expects $4,500 increments in the remaining quarters of 2022. It expects fixed expenses to be $39,800 in each quarter. Prepare the selling and administrative expenses budget by quarters for 2022. IVANHOE COMPANY Selling and Administrative Expense Budget For the Year Ending December 31, 2022 Quarter 1 2 3 4 $ $ $ $ tA $ $ $ $ $