Suppose Iron City manufactures cast iron skillets. One model is a 10-inch skillet that sells for $20. Iron City projects sales of 500 10-inch skillets per month. The production costs are $9 per skillet for direct materials, $1 per skillet for direct labor, and $2 per skillet for manufacturing overhead. Iron City has 50 10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 20% of the next month's sales. Selling and administrative expenses for this product line are $1,500 per month. Iron City is budgeted to produce 550 skillets in July with a $12 production cost per skillet. Compute the budgeted cost of goods sold for July. A. $6,000 B. $6,500 C. $6,600 D. $7,200