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Wave Company is preparing its selling and administrative expense budget for the upcoming month of December. The company estimates that selling and administrative costs have a variable cost of $0.50 per unit and a fixed cost of $15,500, which includes $3,000 of depreciation expense. If the company anticipates producing 37,000 units in December and selling 45,000 units in December, the amount of selling and administrative expense on the December budgeted income statement will be: O $34,000 $35,000 $38,000 O $31,000