The following figures were taken from the records of Welling Co. for the current year. At the end of the year, two jobs were still in process. Details about the two jobs include Job B 29.000 s30,0024000 3.200 Job A $ 12.00 Direct labor Direct materials Machine hours 925 900 Direct labor hours 1,800 Welling Co. applies overhead at a budgeted rate, calculated at the beginning of the year. The budgeted rate is the ratio of budgeted overhead to budgeted direct labor costs. Budgeted figures for the current year were 220,00 Budgeted direct labor costs S 180,00 Budgeted overhead Actual figures were 350.00 s 180.00 $ 75,000 Direct labor Finished goods inventory S 550.00 Cost of goods sold There were no opening inventories. It is the practice of the company to prorate any over/under-absorption of overhead to finished goods inventory, work in process, and cost of goods sold based on the total dollars in these categories