Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020. 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 $492,000. Selling and administrative expenses were $35,300. 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 per unit values to 2 decimal places, eg. 52.75 and fi eTextbook and Media Question Part Score Compute the total overhead variance. Prepare an income statement for management. (Ignore income taxes) (Round per unit values to 2 decimal ploces, es. 52.75 and final - Your answer is partially correct. Prepare an income statement for management. (Ignore income taxes.) (Round per unit values to 2 decimal places, eg. 52.75 and final answers to 0 decimal places, eg. 52.) AYALA CORPORATION Income Statement For the Month Ended June 30, 2020 Unfavorable Unfavorable Unfavorable Favorable Favorable Untavorable eTextbook and Media