Jackson Incorporated produces leather handbags. The production budget for the next four months is: July 5,400 units, August 7,200 units, September 8,400 units, and October 8,600 units. Each handbag requires 0.8 square meters of leather. Jackson Incorporated's ending 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 per square meter in June, but go up to $13 per square meter in July. What is the expected cost of leather purchases in July? Multiple Choice O O $60,276 $61776 $62,676 $62.776