Assume a manufacturing company provides the following information from its master budget for the month of May: Unit sales 7, 000 Selling price per unit $ Direct materials cost per unit $ 18 Direct labor cost per unit Predetermined overheard rate (based on direct labor dollars) 80% If the company maintains no beginning or ending inventories, what is the budgeted gross margin for May? Multiple Choice $14,000 $21,000 $7,000 $11,000