Suppose Steel Handles manufactures cast iron skillets. One model is a 10-inch skillet that sells for $24. Steel Handles projects sales of 550 10-inch skillets per month. The production costs are $13 per skillet for direct materials, $4 per skillet for direct labor, and $5 per skillet for manufacturing overhead Steel Handles has 55 10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 30% of the next month's sales. Selling and administrative expenses for this product line are $1,900 per month. Steel Handles has budgeted cost of goods sold of $12,100 for July. Compute the budgeted gross profit for July O A $ 220) B$5.060 c. $3,740 D. $1,100