Suppose Steel City manufactures cast iron skillets. One model is a 10-inch skillet that sells for $36. Steel City projects sales of 750 10-inch skillets per month. The production costs are $6 per skillet for direct materials, $3 per skillet for direct labor, and $1 per skillet for manufacturing overhead. Steel City has 70 10-inch skillets i 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 $1,400 per month. Steel City has budgeted cost of goods sold of $7,500 for July. Compute the budgeted gross profit for July O A $16,980 OB $19,500 O C. $28448 OD. $28.968 9 19 19 pm Click to select your answer (ACCT 2302 Spring 2019 8 Weeks) is based on Miller-Nobles/Mattison: Horngran's Accountng 2e ,U2+ pn.ecy Fol 1 Copyr ry. 20, 9 pH/2on Educacon ing A R gntheserve o ourse 0