Melody Corporation is a manufacturing company that produces a single product known as "Jupiter." Melody uses the first-in, first-out (FIFO) process costing method for both financial statement and internal management reporting. In analyzing production results, standard costs are used, whereas actual costs are used for financial statement reporting. The standards, which are based upon equivalent units of production, are as follows:

Budgeted factory overhead for standard hours allowed for April production is \(\$ 30,000\). Costs applicable to April production are as follows:

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Raw material per unit.. Direct labor per unit........ Factory overhead per unit.. 1 lb. @ $10 per lb. 2 hrs. @ $4 per hr. ..........2 hrs. @ $1.25 per hr.