Suppose cook pluscook plus manufactures cast iron skillets. one model is a 10-inch skillet that sells for $ 26$26. cook pluscook plus projects sales of 725725 10-inch skillets per month. the production costs are $ 11$11 per skillet for direct materials, $ 4$4 per skillet for direct labor, and $ 3$3 per skillet for manufacturing overhead. cook pluscook plus has 6060 10-inch skillets in inventory at the beginning of july but wants to have an ending inventory equal to 2525% of the next month's sales. selling and administrative expenses for this product line are $ 1 comma 700$1,700 per month. cook pluscook plus is budgeted to produce 846846 skillets in july. compute the budgeted gross profit for july.