Problem 24-02A (Part Level Submission) Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020. Actual Standard Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours 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 $2.40 11,100 $177,000 15,000 $204,550 $2.25 10,400 $171,360 15,300 $206,550 41,500 $62,250 $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 $498,000. Selling and administrative expenses were $37,900. 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 0 decimal places, e.g. 52.) (1) Total materials variance 3240 Unfavorable Materials price variance 16651 Unfavorable Materials quantity variance 1575 Unfavorable $ (2) Total labor variance 5640 Unfavorable $ Labor price variance 9000 Unfavorable Labor quantity variance 3360 Favorable (b) Your answer is correct. Compute the total overhead variance. Total overhead variance 2000 Favorable Click if you would like to Show Work for this question: Open Show Work AYALA CORPORATION Income Statement For the Month Ended June 30, 2020 $ >