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 fi.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 Flexible Results Spending Variances Budget 9,510 Activity Variances Planning Budget 9,030 Labor hours (9) $ 150,445 $147.405 18,862 $ 1200) Direct labor Indirect labor Unities Supplies Equipment depreciation 480 U 2,938 F 1.480 $ 6,800 --- 15830 4,330 0 4,982 4.474 None O None 79,150 $ 18.750 Factory administration $ 1.2010) Total expense $ 297 293