The Moore Company produces and sells a single product. A standard cost card for the product follows: The company budgeted to sell 20,000 units next year.

Standard Cost Cardper unit of product:
Direct materials, 4 metres at $4.00	$16.00
Direct labour, 1.5 hours at $10.00	15.00
Variable overhead	4.50
Fixed overhead	8.50
Standard cost per unit	$46.00
Selling price per unit	$60.00

The company manufactured and sold 18,000 units of product during the year. A total of 70,200 metres of material was purchased during the year at a cost of $4.20 per metre. All this material was used to manufacture the 18,000 units. The company records showed no beginning or ending inventories for the year. The company worked 29,250 direct labour-hours during the year at a cost of $9.75 per hour. Actual selling price per unit was $60.00. Actual fixed overhead costs were $156,000. Actual variable overhead costs were $90,000.