Mackinac Inc, produces denim backpacks. The production budget for the next four months is: July 5,200 units, August 7,800 units, September 7,600 units, October 8,000 units. Each backpack requires 0.5 square meters of denim. Mackinac Inc.'s denim inventory policy is 30% of next month's production needs. On July 1 leather inventory was expected to be 780 square meters. Denim is expected to cost $10.00 per square meter in June, but go up to $11.00 per square meter in July, What is the expected cost of denim purchases in July? Multiple Choice $32.890 $33.790 $23.890 531,390