I have to agree with the response below - 10-12 applications is rather ambitious for business school. Unlike other programs, MBA applications are non-standardized, meaning each application has a unique set of essays, recommendation questions, etc. It'll be tough to ask any recommender to write 12 different letters! Of course, there are some people who do it - it all depends on you!
If you take the test in July, you will have ample time for applications - generally, August is a good time to get started on the actual applications themselves. Remember that there are two (technically three), admissions rounds that you can apply - R1 (October) and R2 (January) are the ones you want to target. Realistically, you'll probably be able to do 3-4 in each round (depending on how much overlap there is, how fast/well you write, etc.). I would not rush to get them all in R1 - that will be highly ambitious/difficult to produce any quality work.
If you take the test in July and have to retake in August or September, you should still be okay. Again, you will likely have to bring your list down to more like 6-8 applications (most people do 4-6 schools total), and you will probably submit more of them in R2.
Best of luck,
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