From the following details, provided by a merchandiser, prepare the selling and administrative expenses budget for the first quarter of the next year. 
Definitions:
Budget Slack
The intentional underestimation of revenues or overestimation of expenses within a budget to create a cushion for unexpected situations.
Employee Self-interests
Employee self-interests are the motivations and personal goals that drive the behaviour of individuals within an organization, which may or may not align with the company's objectives.
Cash Receipts
The collection of cash, typically by a business from its customers, for goods or services provided.
Credit Sales
Credit sales are transactions where the customer purchases goods or services with an agreement to pay at a later date.
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