Current Attempt in Progress

A company manufactures a product that has the direct material standard cost presented below. Budgeted and actual information for the current month for the manufacture of the finished product and the purchase and use of the direct material are also presented.

Standard cost for direct material

$1\mathrm{.}60lb.$@$2\mathrm{.}50$ per lb$.=$$$4\mathrm{.}00$

$\backslash$table$[[,$Budget,Actual$],[$Finished goods $($in units$),30,000,32,000],[$Direct material usage $($in pounds$),48,000,51,000],[$Direct material purchases $($in pounds$),48,000,50,000],[$Total cost of direct material purchases,$$120,000,$$$120,000$