Problem 11-2A (Video) 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 $2.20 $2.10 Raw materials units 10,700 Direct labor payroll $167,200 11,400 $175,500 15,000 $202,600 Direct labor hours 15,200 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 $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 $492,000. Selling and administrative expenses were $39,500. Assume that the amount of raw materials purchased equaled the amount used. AYALA CORPORATION Income Statement $ $ $ Click if you would like to Show Work for this question: Open Show Work