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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
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.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Variances Flexible Results Spending Variances Budget 9,520 Activity Variances Planning Budget 9,040 Labor-hours (9) Direct labor $ 16.00 g) $ $ 152,320 Indirect labor 2,572 F $ 19,836 Utilities $ 6,900 eee 154,370 $ $ 4,996 | $ 1,490 U $ 528 U $ + 16,844 I Supplies $ | $ + | $ 4,484 4,340 Equipment depreciation 79,400 0 None $ None $ 18,780 1.30 Factory administration Total expense $ 304,868
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