Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round...
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Ray Company provided the following excerpts from its Production Department's 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 Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Spending Variances Flexible Results 9,540 Planning Budget Activity Variances Budget Labor-hours (9) 9,060 $ 164,250 $ Direct labor Indirect labor Utilities 162,180 21,790 $ 1.50 ) g) + + + 1,840 F 1,510 U ( $ 7,100 624 U 18,878 9) 5,024 4,504 4,360 79,900 0 None 0 None Supplies Equipment depreciation Factory administration Total expense 18,820 $ 1.50 ) $ 322,066
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