Landers Company manufactures a number of products. The standards relating to one of these products are shown below: Inputs Direct materials Direct labor Variable manufacturing overhead Standard Quantity 4.5 pounds 1.50 hours 1.50 hours Standard Price $0.80 per pound $20.00 per hour $10.00 per hour Data To prepare the budgets of 2021, the following information is provided: 2021 Quarter 1 2 3 2022 Quarter 1 2 4 Budgeted unit sales 50,000 50,000 90,000 60,000 80,000 80,000 Selling price per unit Desired ending finished goods inventory is Finished goods inventory, 1 Jan 2021 Desired ending inventory of raw materials Raw materials inventory, beginning Raw materials purchases are paid and Accounts payable, 1 Jan 2021 $60 35% of the budgeted unit sales of the next quarter 13,000 units 10% of the next quarter's production needs 23,000 pounds 70% in the quarter the purchases 30% in the quarter following purchase $90,000 To evaluate the performance of the first quarter in 2021, the results follow: Actual output Actual variable manufacturing overhead cost 55,000 units $902,000 Actual Quantity 249,000 pounds 251,050 pounds 82,000 hours Actual direct materials cost (used) Actual direct materials cost (purchased) Actual direct labor cost Actual price $0.75 per pound $0.75 per pound $22.00 per hour