Total overhead variance is 3,090 Favorable

Prepare an income statement for management. (Ignore income taxes.) (Round answers to 0 decimal places, e.g. 125.) AYALA CORPORATION Income Statement For the Month Ended June 30, 2014 Sales Revenue Cost of Goods Sold (at standard) Gross Profit (at standard) Variances Materials Price Materials Quantity Labor Price 7992U Labor Quantity 4464F Overhead 3090 | F Total Variance Gross Profit (actual) Selling and Administrative Expenses 35,500 Net Income/ (Loss) Click if you would like to Show Work for this