U oog CDDO LILLE M O DIUM LOY OLCUDO LOYM OOVID TWP Jom JJOOLUT JDOUTH 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 Actual Standard $2.40 $2.25 11,300 10,500 $133,500 $127,680 15.000 15,200 $235,736 $238,336 42,500 $72.250 $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 $450,000. Selling and administrative expenses were $44.300. Assume that the amount of raw materials purchased equaled the amount used. Prepare an income statement for management. (Ignore income taxes.) (Round per unit values to 2 decimal places, eg. 52.75 and final answers to decimal places, eg. 52.) AYALA CORPORATION Income Statement