Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017. Costs and Production Data 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 Actual Standard $2.25 $2.10 10,600 10,000 $120,960 $120,000 14,400 15,000 $189,500 $193,500 42,500 $55,250 $3.00 $1.30 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 $400,000. Selling and administrative expenses were $40,000. Assume that the amount of raw materials purchased equaled the amount used. Compute the overhead controllable variance and the overhead volume variance. Overhead controllable variance $ 4,000 Favorable Overhead volume variance Favorable