Ray Company provided the following excerpts from its Production Departments flexible budget performance report. (Round...
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Ray Company provided the following excerpts from its Production Departments 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 Departments Flexible Budget Performance Report.
Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget 9,520 Activity Variances Planning Budget 9,040 Labor-hours (9) Direct labor ( q) $ 154,370 $ 152,320 Indirect labor + $ 1.30 9) 2,572 F 19,836 ( ( $ 6,900 Utilities + q) 1,490 U 528 U 16,844 Supplies ( + q) 4,996 4,484 4,340 Equipment depreciation ( 0 None 0 None 79,400 $ 18,780 Factory administration + $ 1.30 9) Total expense $ 304,868
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