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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

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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 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 Flexible Results Spending Variances Budget 9,560 Activity Variances Planning Budget 9,080 Labor-hours (9) Direct labor 9) $ 174,170 $ 172,080 23,752 Indirect labor + $ 1.70 ) 1,108 F 1,530 U 9) 720 U Utilities Supplies 20,920 4,380 + 9) 5,052 4.524 Equipment depreciation ($ 7,300 + ( $ 80,400 $ 18,860 0 None O None Factory administration + $ 1.709) Total expense $ 339,328

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