Suppose IronHandles manufactures cast iron skillets. One model is a10-inch skillet that sells for $34. IronHandles projects sales of 550 10-inch skillets per month. The production costs are $5 per skillet for directmaterials, $4 per skillet for directlabor, and $6 per skillet for manufacturing overhead. IronHandles has 60 10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 30% of the nextmonth's sales. Selling and administrative expenses for this product line are $1,700 per month. IronHandles has budgeted cost of goods sold of $8,250 for July