Suppose manufactures cast iron skillets. One model is a 10-inch skillet that sells for . projects sales of 10-inch skillets per month. The production costs are per skillet for direct materials, per skillet for direct labor, and per skillet for manufacturing overhead. has 10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to % of the next month's sales. Selling and administrative expenses for this product line are per month. is budgeted to produce skillets in July with a production cost per skillet. Compute the budgeted cost of goods sold for July