A company uses direct labor hours to apply manufacturing overhead. Budgeted manufacturing overhead for the coming year is $740,000. Budgeted direct materials purchases are $600,000. Budgeted direct labor cost is $820,000. Budgeted direct labor hours for the coming year are 20,000 hours. Actual manufacturing overhead for the year was $700,000. Actual direct materials purchases were $580,000. Actual direct labor cost was $900,000. Actual direct labor hours for the year were 22,000 hours.