Pet Food Company budgets payroll at $3,300 per month plus a percentage of monthly sales. The June operating expenses budget includes total payroll of $9,900 with budgeted sales of $110,000. Sales for July are budgeted at $170,000 while purchases of inventory for July are budgeted at $190,000.00. Depreciation and insurance for July are estimated at $1,100 and $400, respectively. Office and administrative expenses related to purchasing inventory are budgeted at 5% of purchases for the month. The purchase of $2,800 in equipment and $1,400 in furniture is expected in July. The total operating expenses budgeted for July are * $13,500 * $24,500 * $11,400 * $23,000