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Suppose Steel City manufactures cast iron skillets. One model is a 10 -inch skillet that sells for $26. Steel City projects sales of 725 10-inch

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Suppose Steel City manufactures cast iron skillets. One model is a 10 -inch skillet that sells for $26. Steel City projects sales of 725 10-inch skillets per month. The production costs are $13 per skillet for direct materials, $5 per skillet for direct labor, and \$4 per skillet for manufacturing overhead. Steel City has 7010 -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 $1,000 per month. Steel City is budgeted to produce 909 skillets in July. Compute the total amount budgeted for product costs for July

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