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.)
Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Actual Results
Spending Variances
Flexible Budget
Activity Variances
Planning Budget
Labor-hours (q)
9,650
9,170
Direct labor
(
q)
$219,305
$217,125
Indirect labor
(
+
$1.70
q)
$1,198
F
$23,995
Utilities
(
$8,200
+
q)
$1,620
U
$1,152
U
$30,208
Supplies
(
+
q)
$5,178
$4,614
$4,470
Equipment depreciation
(
$82,650
)
$0
None
$0
None
Factory administration
(
$19,040
+
$1.60
q)
Total expense
$396,080
+
Answer & Explanation
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