ABC Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor:

Direct materials: 2 lb. at $7.50 per lb.	$15.00
Direct manufacturing labor: 0.3 hour at $90 per hour	$27.00

The number of finished units budgeted for January 2017 was 20,000; 15000 units were actually produced.

Actual results in January 2017 were as follows:

Direct materials used: 2.2 lb. x 15,000 = 33,000 lbs @ $7.00 / lb.
Direct manufacturing labor: 0.32 hrs x 15,000 = 4,800 hrs @ $9.5 / hr

Assume that there was no beginning inventory of either direct materials or finished units.

The following data are for January 2017:

	Budgeted	Actual
Number of Lamp sold	20,000 units	15,000
Selling price / unit	$80	$85
Variable cost per unit
Direct material	(2 lbs x $7.50 = $15)	(2.2 lbs x $7 = $15.40)
Direct labor	(0.3 hrs x $90 = $27)	(0.32 hrs x $95 = $30.40)
Fixed cost	$240,000	$240,000

During the month, materials purchased amounted to 40,000 lb. @ $7.00, at a total cost of $280,000. Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage.