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		$2.00		$1.85
Raw materials units		11,500		10,900
Direct labor payroll		$163,900		$159,600
Direct labor hours		14,900		15,200
Manufacturing overhead incurred		$223,976
Manufacturing overhead applied				$226,176
Machine hours expected to be used at normal capacity				42,500
Budgeted fixed overhead for June				$72,250
Variable overhead rate per machine hour				$3.10
Fixed overhead rate per machine hour				$1.70

Overhead is applied on the basis of standard machine hours. 3.10 hours of machine time are required for each direct labor hour. The jobs were sold for $456,000. Selling and administrative expenses were $36,500. Assume that the amount of raw materials purchased equaled the amount used.

Prepare an income statement for managenent. (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.) (c) 52.75 a Prepare an income statement for managenent. (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.) (c) 52.75 a