The following budget information is available for the Arch Company for January Year 2: 3 Sales Cost of goods sold Utilities expense Administrative salaries Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses $1,050,000 730,000 6,600 290,000 5% of sales 58,000 88,000 98,000 48,000 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. 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. Multiple Choice $585,500 $644,000 O $544,000 O $641,100