Markham Company has completed its sales budget for the first quarter of Year 2 Projected credit sales for the first four months of the year are shown below: The company's past records show collection of credit sales as follows 40% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be: The following budget information is avallable for the Arch Company for January Year 2 . All operating expenses are paid in cash in the month incurred. Compute the total budgeted selling and administrative expenses (excluding interest) amount for Januaby Year 2