Problem 23-2A (part level submission) Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2014. Costs and Production Data Standa Actual Raw materials $4.20 $4.06 unit cost Raw materials units used 11,400 10,620 Direct labor payroll $177,600 $175,185 Direct labor hours worked 14,800 15,300 Manufacturing overhead incumed $232,168 Manufacturing overhead applied $235,008 43,000 Machine hours expected to be used at normal capacity Budgeted fixed overhead for June $68,800 Variable overhead rate per machine hour $3.20 Fixed overhead rate per machine hour $1.60 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 $468,000. Selling and administrative expenses were $43,000. 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 answers to o decimal places, e.g. 125.) (1) Total materials variance 475 Unfavorable Materials price variance 159 Unfavorable Materials quantity variance 316 Unfavorable (2) Total labor variance 241 Unfavorable Labor price variance 8140 TUnfavorable Labor quantity variance 5725 Favorable