The following information relates to a company.

Production Department Cost Report For the Month Ended July 31 Actual Planning Results Budget 15,000 20,000 Variances Machine-hours $ 8,700 $ 9,300 $ 600 F 29,400 31,500 2,100 F 86,600 102,800 15,400 F Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost 75, 100 71,000 4,100 U 101,000 101,000 $ 300,800 $314,800 $14,000 F Required: Using a Flexible Budget Performance approach complete a new report for the month of July. 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 (i.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 Planning Budget 20,000 Machine-hours (9) 15,000 $ 8,700 $ 9,300 31,500 29,400 86,600 102,000 Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total 75, 100 101,000 $ 300,800 71,000 101,000 $ 314,800