The following information relates to a company.

Production Department

Cost Report

For the Month Ended July 31

Actual Results Planning Budget Variances

Machine-hours 15,000 20,000

Variable costs:

Supplies $ 9,000 $ 9,600 $ 600 F

Scrap 30,800 33,000 2,200 F

Indirect materials 90,200 106,500 16,300 F

Fixed costs:

Wages and salaries 76,300 72,000 4,300 U

Equipment depreciation 102,000 102,000

Total cost $ 308,300 $ 323,100 $ 14,800 F

Required: Using a Flexible Budget Performance approach complete a new report for the month of July.

The following information relates to a company. Production Department Cost Report For the Month Ended July 31 Actual Planning Results Budget Machine-hours 15,000 20,000 Variances Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost $ 9,000 $ 9,600 $ 600 F 30, 800 33,000 2,200 P 90,200 106,500 16,300 P 76,300 72,000 4,300 102,000 102,000 $308,300 $323,100 $14,800 F Required: Using a Flexible Budget Performance approach complete a new report for the month of July. Required 3 Prepare a new performance report for the month of July. (Do not round your intermediate calculations. 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.) Company Production Department Flexible Budget Performance Report For the Month Ended July 31 Flexible Budget Actual Results 15,000 Planning Budget 20.000 Machine-hours (9) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total $ 9,000 30.800 90,200 76,300 102.000 $ 308,300 $ 9,600 33,000 106,500 72,000 102,000 $ 323.100