Your PC base unit, if it is of a mid-end spec, will probably use about 80 W when operating.
The problem is that VA (Volt-Amperes) are not W (Watts). They measure different things. VA is voltage x current, whereas W is power. In an AC circuit, the equation P = VI does not necessarily hold where V and I are rms (average) values; instead the equation is often represented as P = VI x Pf (Pf is known as power factor).
A typical PC PSU has a power factor of 0.6 - this means that for every 0.6 W of power that it actually uses (and that your electricity meter records), it uses 1 VA from the supply. So your PC which is using 80 W of power would actually be drawing 1.1 A (from your 120 V supply) - therefore 133 VA.
You may have heard of new PFC (power factor correcting) PSUs, these are much the same as conventional supplies but they have a power factor much closer to one, typically about 0.95. The advantage of these, is that when used with a UPS, they use less capacity, the batteries provide more run time, and the UPS runs cooler (in the above example, the PC takes 133 VA from the UPS, and to provide this the UPS must take at least 133 W from the battery, but the PC only uses 80 W, leaving 53 W to be wasted as heat in the UPS).
A monitor typically has a Pf of about 0.7, and a 17" will therefore use about 130 VA.
A 350 VA UPS will therefore be sufficient for your needs, but you may find that a larger capacity one will offer spare capacity, in case you want to add other devices, and you will get significantly increased reserve time.