9-17 (Algo) Flexible Budget Performance Reports; Working Backwards [LO 9-1, 9-2, 9-3, 9-4] 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 (L.e., zero varlance). 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 Flexible Spending Variances Budget Activity Variances Planning Budget Labor-hours (a) 9.610 9.130 Direct labor e $ 190.145 $ 197,005 Indirect labor + $ 1.30 (0) Ubilities $ 7,800 + Supplies + eee 2.602 F 1.580 U 20,043 900 U 20,000 5,122 4,574 4.430 S Equipment depreciation None 0 None 81,550 Factory administration $ $ 18.000 1.20 (4) Total expense $ 361,120