B6. (4 marks) Bigelow Company budgets payroll at $4,000 per month plus a percentage of monthiy sales. The June operating expense budget includes total payroll of $12,000 with budgeted sales of $160,000. Sales for July are budgeted at $190,000 while purchases of inventory for July are budgeted at $105,000. Depreciation and insurance for July are estimated at $1,500 and $800, respectively. Office and administrative expenses related to purchasing inventory are budgeted at 10% of purchases for the month. The purchase of $3,500 in equipment and $1,500 in furniture is expected in July. Required: What are the total budgeted operating expenses for July