Bunni, Inc. has prepared the following budgets for March. In March, budgeted production equals budgeted sales, and raw materials inventory will stay constant.

Direct materials	$4,400
Direct labor	$8,000
Manufacturing overhead	$10,300
Selling and administrative expense	$8,600

What is budgeted cost of goods sold for March?

	$31,300
	$21,000
	$22,700
	$12,400