Budget
Direct Labour Costs
$360,000
Direct Labour Hours
25,000
Overhead Costs
$600,000
Actual
$420,000
26,500
$693,000
Beginning
Ending
Work in Progress
$ 14,000
$ 20,000
Finished Goods
$ 31,000
$ 35,000
Materials
$ 10,000
$ 0
Overhead is allocated on Direct Labour costs.
Materials Purchased during the year were $208,000. All materials are Direct Materials.