Chenango Can Company manufactures metal cans used in the food- processing industry. A case of cans sells for $25. The variable costs of production for one case of cans are as follows Direct material Direct labor Variable manufacturing overhead S 7.50 2.00 5.50 Total variable manufacturing $15.00 cost per case ariable selling and administrative costs amount to S.40 per case. Budgeted fixed manufacturing overhead is $340,000 per year, and fixed selling and administrative cost is $43,000 per year. The following data pertain to the company's first three years of operation. (A unit refers to one case of cans.) Year 1 Year 2 Year 3 85,000 85,000 85,000 0 25,500 85,000 85,000 85,000 85,000 59,500 97,750 0 25,500 12,750 Planned production (in units) Finished-goods inventory (in units), January 1 Actual production (in units) Sales in units) Finished-goods inventory (in units), December 31 Actual costs were the same as the budgeted costs