The Alfred Lloyd Company manufactures purple blankets in rural Missouri. The company uses a standard cost system in which manufacturing overhead costs are applied to units of the company's single product on the basis of standard direct labor-hours (DLHs). The standard cost card for the product follows: Standard Cost Card-per unit of product Direct Materials(4 yards at $3.50 per yard) $ 14.00 Direct Labor(1.5 DLHs at $8 per DLH) $ 12.00 Variable Overhead(1.5 DLHs at $2 per DLH) $ 3.00 Fixed Overhead(1.5 DLHs at $6 per DLH) $ 9.00 Standard cost per unit $ 38.00 The following data pertain to 2021: The company is located in a small town and is able to avoid paying minimum wage for technical reasons. The company was a family-owned business until 2018 when it was purchased by a hedge fund. The company manufactured 18,000 units of product during the year. A total of 70,200 yards of material was purchased during the year at a cost of $3.75 per yard. All of this material was used to manufacture the 18,000 units. The company worked 29,250 direct labor-hours during the year at a cost of $7.80 per hour. The ALC expected 22,500 direct labor-hours for the year. Budgeted fixed manufacturing overhead costs were $135,000 while actual fixed manufacturing overhead costs were $133,200. Actual variable overhead costs were $61,425.