Question 2 of 2 6.25/8 View Policies Show Attempt History Current Attempt in Progress Ayala Corporation accumulates the

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Question 2 Of 2 6 25 8 View Policies Show Attempt History Current Attempt In Progress Ayala Corporation Accumulates The 1 (25.71 KiB) Viewed 43 times

Question 2 of 2 6.25/8 View Policies Show Attempt History Current Attempt in Progress Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020. Costs and Production Data Actual Standard Raw materials unit cost $1.95 Raw materials units 10,900 Direct labor payroll $171,760 Direct labor hours 15,200 Manufacturing overhead incurred Manufacturing overhead applied $205,200 Machine hours expected to be used at normal capacity 41,500 Budgeted fixed overhead for June $62,250 Variable overhead rate per machine hour $3.00 Fixed overhead rate per machine hour $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 $452,000. Selling and administrative expenses were $37,800. Assume that the amount of raw materials purchased equaled the amount used. < > ||| $2.10 11,300 $177,310 14,900 $202,000 :
Your answer is partially correct. Compute the total overhead variance. Total overhead variance $ eTextbook and Media 3200 Favorable Your answer is partially correct. Prepare an income statement for management. (Ignore income taxes.) (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 52.) AYALA CORPORATION Income Statement For the Month Ended June 30, 2020 ✓ Sales Revenue Cost of Goods Sold (at standard) Gross Profit lat standard) Variances Materials Price 1695 Unfavorable Materials Quantity 780 Unfavorable Labor Price 8940 Unfavorable Labor Quantity 3390 i Favorable Overhead 3200 Favorable Total Variance Unfavorable Gross Profit (actual) Selling and Administrative Expenses Net Income /(Loss) 4 v v V V v $ ✓ V 4404