Coronado Corporation accumulates the following data relative to jobs started and finished during the month of June 2025. Costs and Production Data Actual Standard Raw materials unit cost $2.20 $2.10 Raw materials units 11,400 10,700 Direct labor payroll $175,500 $167,200 Direct labor hours 15,000 15,200 Manufacturing overhead incurred $201,200 Manufacturing overhead applied $205,200 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 Fixed overhead rate per machine hour $1.50 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $492,000. Selling and administrative expenses were $39,500. Assume that the amount of raw materials purchased equaled the amount used. (a) 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) Total materials variance $ 2,610 Unfavorable Materials price variance $ 1,140 Unfavorable Materials quantity variance $ 1.470 Unfavorable (2) Total labor variance $ 8.300 Unfavorable Labor price variance $ 10,500 Unfavorable Labor quantity variance $ 2,200 Favorable (b) Your answer is correct. Compute the total overhead variance. Total overhead variance $ 4,000 i Favorable J 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.) CORONADO CORPORATION $ Income Statement List of Accounts Assistance Used Accounts Payable Accounts Receivable Cost of Goods Sold Factory Labor Factory Wages Payable Finished Goods Inventory Labor Price Variance . Labor Quantity Variance Manufacturing Overhead Materials Price Variance . Overhead Variance Materials Quantity Variance Overhead Controllable Variance Overhead Volume Variance Raw Materials Inventory Sales Sales Revenue Selling and Administrative Expenses Service Revenue Work in Process Inventory Ctrl)