Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017. Costs and Production Data Actual Standard Raw materials unit cost $2.30 $2.20 Raw materials units used 11,100 10,300 Direct labor payroll $170,200 $164,160 Direct labor hours worked 14,800 15,200 Manufacturing overhead incurred $202,600 Manufacturing overhead applied $205,200 Machine hours expected to be used at normal capacity 43,500 Budgeted fixed overhead for June $65,250 Variable overhead rate per machine hour $3.00 Fixed overhead rate per machine hour $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 $460,000. Selling and administrative expenses were $42,100. Assume that the amount of raw materials purchased equaled the amount used.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 tA Materials price variance to Materials quantity variance $ (2) Total labor variance Labor price variance $ Labor quantity variance $ eTextbook and MediaCompute the total overhead variance. Total overhead variance $ eTextbook and Media Prepare an income statement for management. (Ignore income taxes.) (Round answers to O decimal places, e.g. 125.) AYALA CORPORATION Income Statement $ $ + $ eTextbook and Media