A manufacturing corporation has the following financial information for the year:

Inventory Balances: Work in Progress Finished Goods Raw Materials Beginning $ 90.000 $ 77,000 $ 10,000 Ending $ 80,000 $ 67,000 $ 10,000 During the year, the budgeted and actual costs were as follows: Raw Materials Labour Depreciation Factory Equipment Depreciation Ofce Equipment Building Rent Maintenance Factory Equipment Utilities Electrical Utilities - Gas Utilities - Telecom Sales Commissions Advertising Shipping Total Sales for the year were $1,500,000 Note Budget Actual 1 2 300,000 540,000 72,000 24,000 100,000 60,000 200,000 100,000 20,000 40,000 30,000 20,000 1 ,506,000 290,000 518,000 72,000 24,000 1 00,000 40,000 1 80,000 90,000 22,000 30,000 20,000 16,000 1 ,402,000