Required information [The following information applies to the questions displayed below.] The following information pertains to Trenton Glass Works for the year just ended Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 433,000 Actual manufacturing overhead: Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) $231,000 22,000 82,000 200,000 57,000 30,000 300,000 80,000 Indirect material: Beginning inventory, January 1 Purchases during the year Ending inventory, December 31 48,000 95,000 63,000