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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.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Variances Flexible Results Budget 9,550 Activity Variances Planning Budget 9,070 Labor-hours (9) $ 169,205 $ 167,125 22,770 $ 1.60 9) Direct labor Indirect labor Utilities Supplies Equipment depreciation 1,474 F 1,520 U d $ 7,200 + 672U 19,898 4,370 5,038 4,514 ( 80,150 0 None 0 None 18,840 + Factory administration Total expense $ 1.609) $ 330,689
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