Suppose Iron City manufactures cast iron skillets. One model is a $10-$inch skillet that sells for $$20.$ Iron City projects sales of $50010-$inch skillets per month. The production costs are $$9$ per skillet for direct materials, $$1$ per skillet for direct labor, and $$2$ per skillet for manufacturing overhead. Iron City has $5010-$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.