A listing of budgeted selling and administrative expenses for Glide Tire Company in P7-2 for the year ended December 31, 2008, were as follows:

Advertising expense

942,000

Office rent expense

125,000

Office salaries expense

821,000

Office supplies expense

45,500

Officer’s salaries expense

661,000

Sales salaries expense

988,000

Telephone and fax expense

33,500

Travel expense

443,000

Required:

1. Prepare a selling and administrative expenses budget, in good form, for the year 2008.