Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete the Production Department's Flexible Budget Performance Report. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget Labor-hours (q) 9,500 9,020 $ 15.00 (q) $ 7,440 + $ 6,700 Direct labor Indirect labor Utilities Supplies $ Equipment depreciation 78,900 $ Factory administration + $ 1.10 (q) 18,740 Total expense $ 288,734 $ 145,530 $ 3,030 U $ 142,500 $ 7,200 U $ 135,300 $ 1.10 (q) 14,586 3,304 F 17,890 528 U 17,362 + $ 0.90 (9) 13,780 1,470 U 15,250 432 U 14,818 + (q) 4,968 504 U 4,464 144 U 4,320 0 None 0 None Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete the Production Department's Flexible Budget Performance Report. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget Labor-hours (q) 9,500 9,020 $ 15.00 (q) $ 7,440 + $ 6,700 Direct labor Indirect labor Utilities Supplies $ Equipment depreciation 78,900 $ Factory administration + $ 1.10 (q) 18,740 Total expense $ 288,734 $ 145,530 $ 3,030 U $ 142,500 $ 7,200 U $ 135,300 $ 1.10 (q) 14,586 3,304 F 17,890 528 U 17,362 + $ 0.90 (9) 13,780 1,470 U 15,250 432 U 14,818 + (q) 4,968 504 U 4,464 144 U 4,320 0 None 0 None
Expert Answer:
Answer rating: 100% (QA)
Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 A... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
Calculate the present value of the following amounts: 1. $13,000 at the end of twenty years at 10% 2. $13,000 a year at the end of the next twenty years at 10% (If using present value tables, use...
-
1. (More on the Integers Modulo n) Let us first fix n = 7 in this question. Everything below is still true for any integer n 2. Let R be the relation on Z defined by R = {(a,b) Z x Z : a = b (mod...
-
Let X~ N(0, 2) be a zero mean Gaussian random variable. (a) Let X1, X2,... be IID random variables with the same distribution as X. Let Sn = X+X+...+Xn For > 0, establish the Chernoff bound on P(|Sn ...
-
FIGURE Q38.5 is the current-versus-potential-difference graph for a photoelectric-effect experiment with an unknown metal. If classical physics provided the correct description of the photoelectric...
-
Suppose you are traveling on business to a foreign country for the first time. You do not have a bus schedule or a watch with you. However, you have been told that buses stop in front of your hotel...
-
In Exercise 1 - 2, either use an appropriate theorem to show that the given set, W, is a vector space, or find specific example to the contrary? 1. 2. b: a +b+c= 2 Lc.
-
Alvarez Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances account balances. In addition, 6,000 units ol product were sold at...
-
Determine the number of periods for which the following annuity payments would have to be invested to accumulate to $20,000. Assume payments are made at the end of each period. Convert the number of...
-
For the parabola graphed below, identify its vertex, axis of symmetry, and state if it opens upwards or downwards. 6 5 4 -6 -5 -4-3-2-1 2 4 5 0 7 -1 -2- 3 -4 -5 -6- -7+ The vertex of the parabola is...
-
A product test is designed in such a way that for a defective product to be undiscovered, all four inspections would have to fail to catch the defect. The probability of catching the defect in...
-
What does the "Q" statistic tell you in a meta-analysis? In the EMA study by Wang and colleagues, there was a weak effect of alcohol use on partner aggression. Why was this the case?
-
Instructions for Problems 1-3 (10 points each, grading is based on accuracy) Create a set of 3NF normalized relations (or tables) given the sample data/form below. Do not draw a dependency diagram;...
-
2. Based on the Howe roof truss illustrated below, a) draw the free body diagram of the structure. b) calculate the force CD. c) determine the force in member DJ of the structure. 10 kN L 10 kN R KI...
-
A new company issues $30 Million Dollars of 12-year bonds bearing a 9.5% Coupon. If the market demands a 7.0% rate of return for the risk it believes it is taking, how much will the company receive...
-
Two opticians compete on price in the town. The marginal cost for a pair of glasses c = $10 and demand in the town is Q = 100 P per day in April. Assume first that both have a capacity to complete...
-
An article that only presents one point of view or omits facts is biased
-
The test statistic in the NeymanPearson Lemma and the likelihood ratio test statistic K are intimately related. Consider testing H 0 : = 0 versus H a : = a , and let * denote the test statistic...
-
College Textbook Publishers Inc. has prepared income statements segmented by divisions, but management is still uncertain about actual performance. Financial information for May is given as follows:...
-
All Things Greek Inc. has three sales divisions. One of the key evaluation inputs for each division manager is the performance of his or her division based on division income. The division statements...
-
Six Flags Theme Parks Inc. operates theme parks in the United States, Mexico, and Europe. One of its first theme parks, Six Flags over Georgia, was built in the 1960s in Atlanta on a large tract of...
Study smarter with the SolutionInn App