Bee company is a honey wholesaler. an income statement and other data for the second quarter of the year are given below: bee company income statement for the quarter ended june 30 sales $ 960,000 cost of goods sold 420,000 gross margin 540,000 selling and administrative expenses: selling $ 200,000 administrative 75,000 275,000 net operating income $ 265,000 other data: average selling price $60 per unit selling expenses fixed selling expenses plus 8% of sales administrative expense fixed administrative expenses plus $2 per unit bee company's cost formula for total selling and administrative expenses, with "x" equal to the number of units sold would be: multiple choice y = $123,200 + $4.80x y = $123,200 + $6.80x y = $275,000 + $4.80x y = $166,200 + $6.80x