Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017 $2,20 11,100 10,300 $170,200 $164,160 14,800 15,200 $2.30 Raw materials units used Direct labor payroll Direct labor hours worked $202,600 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 43,500 $65,250 $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 $460,000. Seling and administrative expenses were $42,100. Assume that the amount of raw materials purchased equaled the amount used. s Prepare an income statement for management. (Ignore income taxes.) (Round answers to O decimal places,e.g. 125.) AYALA CORPORATION