Fazel Company makes and sells paper products. In the coming year, Fazel expects total sales of $ 19,730,000. There is a 3 percent commission on sales. In addition, fixed expenses of the sales and administrative offices include the following:
Salaries ...... $ 960,000
Utilities ..... 365,000
Office space .... 230,000
Advertising .... 1,200,000
Required:
Prepare a selling and administrative expenses budget for Fazel Company for the coming year.