Walnut has forecast sales for the next three months as follo

Walnut has forecast sales for the next three months as follows: July 4,300 units, August 6,200 units, September 7,700 units. Walnut’s policy is to have an ending inventory of 45% of the next month’s sales needs on hand. July 1 inventory is projected to be 2,400 units. Selling and administrative costs are budgeted to be $16,000 per month plus $7 per unit sold. What are budgeted selling and administrative expenses for July?$41,600$46,100$66,430$32,830