Jackson Inc. produces leather handbags. The production budget for the next four months is: July 5,400 units, August 7,200 units, September 8,400 units, October 8,600 units. Each handbag requires 0.8 square meters of leather. Jackson Inc.'s leather inventory policy is 30% of next month's production needs. On July 1 leather Inventory was expected to be 1,296 square meters. Leather is expected to cost $12.00 per square meter in June, but go up to $13.00 per square meter in July. What is the expected cost of leather purchases In July? Multiple Choice $62.676 $62,776 $61.776 $60.276