Amadon Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During July, the company budgeted for 7,900 units, but its actual level of activity was 7,920 units. The company has provided the following data concerning the formulas to be used in its budgeting: Fixed element per month - Variable element per unit $27.00 Rcvcnuc... Direct labor ................. Manufacturing overhead ................ Selling and administrative expenses .... Total expenses............ $ 0 0 40,800 20.000 $60,800 $ 5.20 9 .80 1.00 0.50 $16.50 The selling and administrative expenses in the planning budget for July would be closest to: $23,960 $24,690 O $24,628