GH Company budgets payroll at $3300 per month plus a percentage of monthly sales. The June operating expenses budget includes total payroll of $10,900 with budgeted sales of $190,000. Sales for July are budgeted at $130,000 while purchases of inventory for July are budgeted at $940.000. Depreciation and insurance for July are estimated at $600 and $300 respectively. Office and administrative expenses related to purchasing inventory are budgeted at 5% of purchases for the month. The purchase of $2900 in equipment and $1000 in furniture is expected in July. The July payroll should be budgeted at O $10,900 $13,016 $5200 $8500