Ayala Corporation accumulates the following data relative to jobs started and finished during the month...
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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 $ 2.30 $ 2.20 Raw materials units 11,500 11,000 Direct labor payroll $ 152,440 $ 147,440 Direct labor hours 14,800 15,200 Manufacturing overhead incurred $ 230,572 $ 233,472 Manufacturing overhead applied Machine hours expected to be used at normal capacity 43,500 $ 69,600 Budgeted fixed overhead for June Variable overhead rate per machine hour $ 3.20 Fixed overhead rate per machine hour $ 1.60 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 $ 458,000. Selling and administrative expenses were $ 41,200. Assume that the amount of raw materials purchased equaled the amount used. Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) (1) $ Total materials variance TA > Materials price variance $ $ > $ Materials quantity variance $ Labor price variance $ $ $ Labor quantity variance
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