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

Problem 26-02A a-c Ayala Corporation accumulates the following data relative to jobs started and finished during the month o June 2020. Costs and Production Data Actual Standard $2.20 10,100 $164,280 $159,600 15,200 Raw materials unit cost Raw materials units Direct labor payrol Direct labor hours Manufacturing overhead inourred 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 $2.40 11,000 14,800 $235,636 $238,336 41,500 $70,550 $3.20 $1.70 Overhead is applied on the basis of standard machine hours. 3.20 hours of machine time are required for each direct labor hour. The jobs were sold for s467,000. Selling and administrative expenses were $36,500. 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, e.g. 52.75 and final answers to O decimal places, e.g. 52.)