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 $2.20 $2.00 Raw materials units 11,200 10,300 Direct labor payroll $175,820 $169,830 Direct labor hours 14,900 15,300 Manufacturing overhead incurred $202,750 Manufacturing overhead applied $206,550 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 $489,000. Selling and administrative expenses were $35,800. Assume that the amount of raw materials purchased equaled the amount used. Your answer is partially correct. Try again. 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) Total materials variance Materials price variance Materials quantity variance 4040 Unfavorable $12240 Unfavorable $1800 unfavorable (2) Total labor variance TUnfavorable Labor price variance TUnfavorable ITTI (2) Total labor variance TUnfavorable SE Labor price variance U l nfavorable Alll l a Labor quantity variance alice Il Favorable Favorable Your answer is partially correct. Try again. Compute the total overhead variance. Total overhead variance Favorable Your answer is partially correct. Try again. Prepare an income statement for management. (Ignore income taxes.) (Round per unit values to 2 dec e.g. 52.75 and final answers to o decimal places, e.g. 52.) AYALA CORPORATION Income Statement I Favorable Favorable Favorable TFavorable) Unfavorable Unfavorable Unfavorable Unfavorable