Matix Furniture Company manufactures specialist furniture for use with computers. It uses a FIFO costing system to allocate costs to Finished Goods and maintains its financial records on a financial year which operates from 1 July 2019 to 30 June 2020 The Work in Process Inventory on 31 May 2020 consisted of the following: Job No. Description Units Accumulated Cost SES 23 Storage Equipment 20,000 $860,000 P5612 Printer Stand 25,000 $300,000 CH421 Chair 15,000 $431,000 Total $1,591,000 The Finished Goods Inventory at 31 May 2020 was as follows: Item Description Storage Equipment Printer Stand Chair Desk Total Quantity units) 7500 21000 19400 11200 Unit cost 564 $55 $35 $102 Accumulated cost 480,000 1,155.000 679.000 1,142,400 3,456,400 At the end of May 2020, the balance in Matix Furniture Company's Material inventory Account was $579,000. Purchases of Material Inventory during June were $622,000. The Raw Material requisitioned for jobs during June were as follows: Job number SE523 P5612 CH421 D$174/5000 desks) RM used 167,000 221,000 13.800 252,000 Matix Furniture Company applies manufacturing overhead on the basis of machine hours. The manufacturing overhead budget for the year totalled $4,500,000 and the company budgeted it would be using 900,000 machine hours. From July 2019 to the end of May 2020 the company has used 835,000 machine hours and its actual manufacturing overhead has amounted to $4,105,000 During the month of June 2020 machine hours, labour hours and labour cost was as follows: Job number Machine hours Labour hours tabour cost SES23 12,000 11,600 $122.400 PS612 19.500 14,300 $200,500 CH421 4.400 3,600 $43,200 D5174 14,000 12.500 $138,000 Indirect labour 3,000 $29.400 Supervision $57,600 Total 49,900 45,000 $591,100 The jobs completed in June 2020 and the unit sales during June 2019 were as follows: Quantity completed 20,000 Job number SE523 P5612 CH421 DS174 Item Description Storage Equipment Printer Stand Chair Desk Unit sales 17,500 18,000 21.000 6,000 15.000 5,000