Scotch, Inc. has prepared the operating budget for the first quarter of the year. The company forecast sales of exist40,000 in January, exist50,000 in February, and exist60,000 in March. Variable and fixed expenses are as follows: Variable Expenses: Power cost (20% of sales) Miscellaneous expenses: (5% of sales) Fixed Expenses: Salaries expense: exist6,000 per month Rent expense: exist5,000 per month Depreciation expense: exist1,000 per month Power cost/fixed portion: exist500 per month Miscellaneous expenses/fixed portion: exist1, 200 per month Using the information above, calculate the amount of selling and administrative expenses for the month of February. exist12, 500 exist28, 700 exist26, 200 exist23, 700