P$24\mathrm{.}2($LO $2,3,4,$ AP 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 equaled the amount used.

Instructions

a$.$ Compute all of the variances for $(1)$ direct materials and $(2)$ direct labor.

b$.$ Compute the total overhead variance.

c$.$ Prepare an income statement for management. $($Ignore incom$$ taxes.$)$

Compute variances, and prepare

income statement.

Excel

a$.LQV$$$4,800F$