Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017.

Problem 25-2A (Part Level Submission) Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017. Costs and Production Data Actual Standard $2.20 11,400 $175,500 15,000 $202,600 $2.10 10,700 $167,200 15,200 Raw materials unit cost Raw materials units used Direct labor payroll Direct labor hours worked Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour $205,200 43,500 $65,250 $3.00 $1.50 Overhead is applied on the basis of standard machine hours. 3.00 hours of machine time are required for each direct labor hour. The jobs were sold for $492,000. Selling and administrative expenses were $39,500. Assume that the amount of raw materials purchased equaled the amount used. (a) Your answer is correct. Compute all of the variances for (1) direct materials and (2) direct labor. (Round answers to o decimal places, e.g. 125.) (1) Total materials variance I 2610 7 Unfavorable 1100 unfavorable Materials price variance Unfavorable Materials quantity variance Unfavorable (2) Total labor variance 8300Unfavorable 10,500 Unfavorable Labor price variance Labor quantity variance avorable Click if you would like to Show Work for this question: Open Show Work (b) Your answer is correct. Compute the total overhead variance. Total overhead variance - 2,600 Favorable Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT PRINTERV Prepare an income statement for management. (Ignore income taxes.) (Round answers to o decimal places, e.g. 125.) AYALA CORPORATION Income Statement Click if you would like to Show Work for this question: Open Show Work