Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required:...
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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. (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. Round "rate per hour" answers to 2 decimal places.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget 9,530 Activity Variances Planning Budget 9,050 Labor-hours (9) Direct labor a) $ 159,305 $ 157,245 20,812 Indirect labor + $ 1.409) 2,206 F 1,500 U Utilities $ 7,000 + 9) 576 U 17,860 + 9) 5,010 4,494 4,350 Supplies Equipment depreciation 0 None 0 None $ 79,650 $ 18,800 Factory administration + $ 1.409) Total expense $ 313,459
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