Horton Company produces and sells two products: round and square tables. In August 20x4, the budget projected the following for 20x5: 
Budgeted data for 20x5 Direct labour and overhead are:
Direct labour:
Round 4 hours per unit at $6 per hour
Square 6 hours per unit at $8 per hour
Overhead: $4 per direct labour hour
The cost of purchases for direct material P for 20x5 is:
Definitions:
Price Stability
An economic condition in which the prices of goods and services remain relatively constant over time, preventing significant inflation or deflation.
Full Employment
Refers to a situation in an economy where all available labor resources are being used in the most efficient way possible, typically characterized by the absence of cyclical unemployment.
Unemployment Insurance
A government program that provides financial assistance to individuals who have lost their jobs through no fault of their own, to help them meet expenses while they search for new employment.
Disposable Income
Post-income tax monetary resources that households can allocate for both savings and lifestyle expenditures.
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