Marigold Wings, Inc. manufactures airplanes for use in stunt shows. Marigold's factory is highly automated, using the latest in robotic technology. To keep costs low, the company employs as few factory workers as possible. Since each plane has different features (such as its shape, weight, and color), Marigold uses a job order costing system to accumulate product costs. At the end of 2016, Marigold's accountants developed the following expectations for 2017 based on the marketing department's sales forecast Budgeted overhead cost Estimated machine hours Estimated direct labor hours Estimated direct materials cost $1,079,000 47,000 12,000 $1,520,000 Marigold's inventory count, completed on December 31, 2016, revealed the following ending inventory balances Raw Materials Inventory Work in Process Inventory$626,000 Finished Goods Invento $249,000 $1,810,000 The company's 2017 payroll data revealed the following actual payroll costs for the year: Annual Salary per per Hour EmployeeEmployee Total Hours Worked Number Employe Wage Rate Job Title President and CEO Vice president and CFO Factory manager Assistant factory manager Machine operator Security guard, facto Forklift operator Corporate secreta Janitor, facto $224,000 $178,000 40,700 $30,300 $20,700 $36,700 $14.5 2,250 2,000 2,150 $7.5 The following information was taken from Marigold's Schedule of Plant Assets. All assets are depreciated using the straight-line method Salvage Value Usefu Life Price $4,000,000 Plant Asset Factory building Administrative office $150,000 20 Years $125,000 30 Years $20,000 12 Year $650,000 Factory equipment $2,000,000