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. Note: 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. X Answer is not complete. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Flexible Planning Results Variances Budget Activity Variances Budget Labor-hours (q) 9,600 9,600 9,120 Direct labor (q) $ 195, 130 $ 3,130 U V $ 192,000 $ 192,000 X Indirect labor $ 1.20 (q) 19, 130 X 3,028 F 19,060 None X 19,060 X Utilities $ 7,700 (q) 7,700 X 1,570 U 6, 130 X 912 U 25,028 Supplies (q) 5, 108 5, 108 X U 4,564 None X 4,420 Equipment $ 81,400 0 depreciation 81,400 None 81,400 0 None Factory administration $ 18,940 + $ 1.10 ( q) 18,940 X 17,218 X Total expense 353,420