Suppose Steel Handles manufactures cast iron skillets. One model is a 10-inch skillet that sells for $ 25. Steel Handles projects sales of 550 10-inch skillets per month. The production costs are $ 11 per skillet for direct materials, $ 5 per skillet for direct labor, and $ 1 per skillet for manufacturing overhead. Steel Handles has 35 10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 25% of the next month's sales. Selling and administrative expenses for this product line are $ 1 comma 200 per month. Steel Handles is budgeted to produce 653 skillets in July with a $ 17 production cost per skillet. Compute the budgeted cost of goods sold for July.