Budgeted selling expenses total $42,400 and budgeted administrative expenses total $104,700. What is the total selling and administrative cost budget?

1. The selling and administrative cost budget lists operating expenses line by line and totals them. 2. Selling expenses total $42,400 and administrative expenses total $104,700. 3. The combined total is $42,400 plus $104,700, which is $147,100. 4. That total is deducted from gross profit on the budgeted income statement. 5. $62,300 is the difference between the two subtotals rather than their sum. _Source: Jonick, Principles of Managerial Accounting (UNG Press, CC BY-SA 4.0), section 7.8 Selling and Administrative Cost Budget_