Ray Company provided the following excerpts from its Production Department's flexible budget performance report.
Required:
Complete the Production Department's Flexible Budget Performance Report.
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values. Round "rate per hour" answers to decimal places.
tableRay CompanyProduction Department Flexible Budget Performance ReportFor the Month Ended August tableActualResultsSpending Variances,tableFlexibleBudgetActivity Variances,tablePlanningBudgetLaborhours qDirect labor,$q$$$$$Indirect labor,$$qUUtilities$qUUSuppliesqEquipment depreciation,$None,,,,None,,Factory administration,$$qTotal expenses,,
