Chapter 9 Assignment Seved Help 6 Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero varlance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. 25 points eBook Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget 9,510 PM Activity Variances Planning Budget Labor hours (9) 9,030 References 9) $ 150.445 + $147405 18.862 ($ 6.800 + Drect labor Indirect labor Utilities Supplies Equipment depreciation Factory administration $ 120 ) 9) 9) 2,938 F 1.480U 480U + 4,962 4,474 15,830 4,330 $ 79,150 $ 18,750 O None o None + $ 1200) Total expense $ 297 293