1 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.) 10 points eBook Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget 9,550 Print Activity Variances Labor-hours (9) Planning Budget 9,070 References a) $ 109,205 + $ $ 167,125 22,770 1.600) ($ 7,200 + 1,474 F 1,520 U eee Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration 6720 5,038 19,898 4,370 4,514 $ 80,150 > $ + 18,840 O None o None $ 1.609) Total expense $ 330,689