The following data is given for the Harry Company:
Budget production 26,000 units Actcual production 27,000 units
Materials: statndard price per ounce $6.50~ standard ouces per completed unit 8~Actual ounces purchased and used in production 228,000~Actual price paid for materials $1,504,800.
Labor: standard hourly labor rate $22 per hour~Actual labor hours worked 183,000~Actual total labor costs $4,020,000~ standard hrs allowed per completed unit 6.6.
Overhead~Actual and budgeted fixed overhead $1,029,600~Standard variable overhead rate $24.50 per stadard labor hour~Actual variable overhead costs$4,520,000~overhead is applied on standard labor hours.