The controller of Fortnight Co. has requested a quick estimate of the manufacturing supplies needed for the Cleveland Plant for the month of July, when production isexpected to be 640,000 units to meet the ending inventory requirements and sales of 645,000 units. Fortnight Co.'s budget analyst has the following actual data for thelast three months.

MonthProduction in unitsManufacturingSupplies

March535,000$662,760

April710,000855,260

May650,000769,110

Using the high-low method to develop a cost estimating equation, the estimate of needed manufacturing supplies for July would be: (CMA adapted)

$709,500.

$704,000.

$778,260.

$783,760.