Question
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
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.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget Labor-hours (q) 9,480 9,000 Direct labor (a) $ 134,730 $ 132,720 Indirect labor + $ 1.50 (q) Utilities $ 6,500 + (q) 1,780 F 1,450 U 21,640 336 U 12,800 Supplies + (a) 4,940 4,444 4,300 Equipment depreciation - $ 78,400 0 None 0 None Factory administration $ + 18,700 $ 1.90 (q) Total expense $ 288,088
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started