Assume a manufacturing company provides the following information from its master budget for the month of May:

Unit sales $7,400$

Selling price per unit $ $53$

Direct materials cost per unit $ $20$

Direct labor cost per unit $ $16$

Predetermined overheard rate $($based on direct labor dollars$)75\%$

If the company maintains no beginning or ending inventories, what is the budgeted gross margin for May?