Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020.

Costs and Production Data Actual Standard $2.10 11,300 $177,310 14.900 $201,700 $1.95 10,900 $171,760 15,200 Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours 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 41,500 562.250 $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 $452,000. Selling and administrative expenses were $37,800. Assume that the amount of raw materials purchased equaled the amount used. Your answer is correct. . Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to o decimal places, e.g. 52.) ) (1) Tatal materials variance 2,475 Unfavorable $ Materials price variance 1,695 7 Unfavorable $1 Materials quantity variance 780 Unfavorable (2) Total labor variance 5,550 $1 Unfavorable Labor price variance 8,940) Unfavorable $U Labor quantity variance 3,3907 Favorable Your answer is partially correct. Try again. 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 For the Month Ended June 30, 2020 Sales Revenue 452,000 X Cost of Goods Sold 346,455 X Gross Profit (at Standard) 105,545 Variances Materials Price Variance 1,695 Unfavorable x Materials Quantity Variance 2,475 Unfavorable Labor Price Variance 8,9401 Unfavorable Labor Quantity Variance (3,390) Favorable X Overhead Variance (3,500) Favorable Total Variance Unfavorable 6,220 Gross Profit (Actual) 99,325 DODO Selling and Administrative Expenses 37,800 Net Income / (Loss) 61,525