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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 Flexible Spending Variances Results Budget 9,570 Activity Variances Planning Budget 9,090 Labor-hours (9) Direct labor 9) $ 179,145 $ 177,045 21,865 Indirect labor + (1 ( $ 7,400 ( Utilities 1,870 F 1,540 U $ 1.50 9) 9) q) + 768 U 21,944 Supplies + 5,066 4,534 4,390 $ Equipment depreciation ( 0 None 0 None 80,650 $ 18,880 Factory administration + $ 1.809) Total expense $ 343,984
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