Simpson Company makes and sells a single product. Budgeted sales for April are $1,200,000. Gross margin is budgeted at 30% of sales. If the net income for April is budgeted at $160,000, what is the amount of selling and administrative expenses that will be budgeted for the month? A) $533,332 B) $408,000 C) $312,000 D) $200,000