Ray Company provided the following excerpts from its 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.) Required: Complete the Production Department's Flexible Budget Performance Report. 8 04:06:40 Ray Company eBook Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Planning Budget Activity Variances Budget Labor-hours (q) 9.480 9.000 Direct labor 14 q) 134,730 $ 132,720 Indirect labor + $ 1.50 q) 1,780 F 21,640 Utilities $ 6,500 1,450 U 336 U 12,800 Supplies q 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