The following budget information is available for the Arch Company for January Year 2: Sales $1,060,000 Cost of goods sold Utilities expense Administrative salaries 740,000 6,800 300,000 Sales commissions 5t of sales Advertising Depreciation on store equipment Rent on administration building Miscellaneous adninistrative 60,000 90,000 100,000 50,000 expenses All operating expenses are paid in cash in the month incurred. Compute the total budgeted selling and administrative expenses (excluding interest) amount for January Year 2