(c) Prepare an income statement for management. (Ignore income taxes.)

(b)	Compute the total overhead variance.

e Chrome Secure l https// *Question 1 Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2014. Raw materials unit cost Raw materials units used Direct labor payrol Direct labor hours worked 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 $4.40 11,200 $4.28 10,680 $172,500 $166,744 15,200 15,000 $212,220 $214,320 42,000 $71,400 $3.00 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 $458,000. Selling and administrative expenses were $35,600 Assume that the amount of raw materials purchased equaled the amount used. Question 1 Compute all of the variances for (1) direct materials and (2) direct labor. (Round answers to 0 decimal places, e.g. 125.) (1) Total materials variance Materials price variance Materials quantity variance (2) Total labor variance Labor price variance Labor quantity variance Attempts: 0 of 3 used " Question 1 t "Xh@ ..ad4:) :47 PM 7/22/2017 ENG ^