Sheridan Clothiers manufactures women's business suits. The company u:

a standard cost accounting

system. In March $2022,14,000$ suits were made. The following standard and actual cost data applied to the month of March when normal capacity was $17,500$ direct labour hours. All materials purchased were used in production:

Cost Element

Standard $($per unit$)$

Direct materials

$5\mathrm{.}00$ m at $$6\mathrm{.}50$ per metre

Direct labour

$1$ hour at $$11\mathrm{.}20$ per hour

Overhead

$1$ hour at $$8\mathrm{.}70$ per hour

$($fixed $$6\mathrm{.}00$; variable $$2\mathrm{.}70)$

Actual

$$476,000$ for $68,000$ m

$($$$7\mathrm{.}00$ per metre$)$

$$148,500$ for $13,500$ hours

$($$$11\mathrm{.}00$ per hour$)$

$$90,000$ fixed overhead

$$45,000$ variable overhead

Overhead is applied based on direct labour hours. At normal capacity, budgeted fixed overhead costs were $$105,000,$ and budgeted variable overhead costs were $$47,250.$