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