Suppose Chef City manufactures cast iron skillets. One model is a 10-inch skillet that sells for $22. Chef City projects sales of 600 10-inch skillets per month. The production costs are $10 per skillet for direct materials, $4 per skillet for direct labor, and $1 per skillet for manufacturing overhead. Chef Cit has 75 10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 35% of the next month's sales. Selling and administrative expenses for this product line are $1,700 per month. Chef City has budgeted cost of goods sold of $9,000 for July. Compute the budgeted gross profit for July OA. $8,820 OB. $4.200 O C. $7,170 O D. $2,550