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11,100 Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020. Costs and Production Data Actual Standard
11,100 Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020. Costs and Production Data Actual Standard Raw materials unit cost $2.10 $1.90 Raw materials units 10,700 Direct labor payroll $163,900 $160,650 Direct labor hours 14,900 15,300 Manufacturing overhead incurred $208,340 Manufacturing overhead applied $211,140 Machine hours expected to be used at normal capacity 41,500 Budgeted fixed overhead for June $66,400 Variable overhead rate per machine hour $3.00 Fixed overhead rate per machine hour $1.60 Overhead is applied on the basis of standard machine hours. 3.00 hours of machine time are required for each direct labc hour. The jobs were sold for $492,000. Selling and administrative expenses were $35,300. Assume that the amount of ra materials purchased equaled the amount used. Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit valces to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) (1) Total materials variance $ > Materials price variance $ Materials quantity variance $ (2) Total labor variance $ Labor price variance $ Labor quantity variance $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO SIMILAR PROBLEM Compute the total overhead variance. Total overhead variance $ Prepare an income statement for management (Ignore income taxes.) (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to o decimal places, e.g. 52.) AYALA CORPORATION Income Statement S. SHOW LIST OF ACCOUNTS LINK TO TEXT LNK TO TERI LINE TOTENT VIDEO SEMILAR
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