Cheyenne Manufacturing Corporation uses both standards and budgets. The company estimates that production for the year will be $100,000$ units of Product Fast. To produce these units of Product Fast, the colnpany expects to spend $$650,000$ for materials and $$850,000$ for labor.

$($a$)$

$($b$)$

Compute the estimates for budgeted cost.

Total Materials Cost $

Total Labor Cost

$