The following budget information is available for the Arch Company for January Year 2: Sales Cost of goods sold Utilities expense Administrative salaries Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses $1,020,000 700,000 6,000 260,000 5% of sales 52,000 82,000 92,000 42,000 All operating expenses are paid in cash in the month incurred. Compute the total budgeted accrual-basis selling and administrative (S&A) expenses for January, Year 2. Multiple Choice $587,000 $585,000 $496,000 $534,500