Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate p 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 (.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 Flexible Budget 9,560 Actual Spending Varian Activity Variances Results Spending Variances Planning Budget 9,080 Labor-hours (9) $ 174,170 $ 172,080 23,752 $ 1.70 q) Direct labor Indirect labor Utilities Supplies Equipment depreciation 1,108 F 1,530 U $ 7,300 + 720 U 20,920 4,380 5,052 4,524 80.400 0 None 0 None 18,860 + Factory administration Total expense $ 1.70 q) $ 339,328 Prev 1 of 4 ! Next >