Ayala Corporation accumulates the following data relative to jobs started and finished during the month...
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Accounting
Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $400,000. Selling and administrative expenses were $40,000. Assume that the amount of raw materials purchased equated the amount used. Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, eg. 52.75 final anewere th h darimal nlaree of 501 Prepare an income statement for management. (Ignore income taxes.) (Round per unit values to 2 decimal ploces, es. 52.75 and final answers to 0 decimal places, es. 52.)
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