Check my work 2 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 (i.e., zero variance). Input all amounts as positive values.) 13 Ray Company points Production Department Flexible Budget Performance Report For the Month Ended August 31 eBook Actual Results Spending Variances Flexible Planning Budget Activity Variances Budget References Labor-hours (q) 9,520 9,520 9,040 Direct labor q) $ 154,370 $ 2,050 U $ 152,320 Indirect labor + $ 1.30 q) $ 17,264 $ 2,572 F $ 19,836 Utilities $ 6,900 + $ 1,490 U $ 528 U $ 16,844 Supplies g) $ 4,996 $ 512 U $ 4,484 $ 4,340 Equipment depreciation $ 79,400 $ 79,400 $ 0 None $ 79,400 $ 0 None $ 79,400 Factory administration $ $ 18,780 1.30 q) Total expense $ 304,868