please prepare the income statement correctly and organised according to the picture and in return I will provide a thumbs up thank you
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 $2.10 $1.90 Raw materials units 11.100 10,700 Direct labor payroll $163 900 $160,650 Direct labor hours 14,900 15.300 Manufacturing overhead incurred $208,340 Manufacturing overhead applied $211.140 Machine hours expected to be used at normal capacity 41.500 Budgeted fixed overhead for June $66,400 Variable overhead rate per machine hour $3.00 Fixed overhead rate per machine hour $1.60 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 final answers to decimal places, eg. 52.) $ 2980 Unfavorable $ 2220 i Unfavorable $ 760 Unfavorable Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance (2) $ 3250 Unfavorable $ 7450 Unfavorable 4200 Favorable Compute the total overhead variance. Total overhead variance $ (2800) Unfavorable eTextbook and Media Prepare an income statement for management (Ignore income taxes.) (Round per unit values to 2 decimal places, s. 52.75 and final answers to decimal places, eg. 52.) AYALA CORPORATION Income Statement Sales Revenue For the Month Ended June 30, 2020 For the Year Ended June 30, 2020 June 30, 2020 Cost of Goods Sold (at standard) Gross Proht (at standard Favorable Gross Profit actual Stilling and Administrative Expenses Sales Revenue Cost of Goods Sold (at standard) Gross Proht (at standard) Variances Materials Price $ Unfavorable Materials Quantity Unfavorable Labor Price > 3 Unfavorable Labor Quantity > Favorable 2 Overhead > Favorable Total Variance Favorable Gross Pront (actual) Selling and Administrative Expenses Net Income /(Loss) Sold (at standard) at standard) ce $ > Unfavorable antity Unfavorable > > Unfavorable > ty Favorable > Favorable > Favorable actual dministrative Expenses (Loss)