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 9,540 Activity Variances Planning Budget 9,060 Labor-hours (9) Direct labor g $ 164,250 $ 162,180 21,790 Indirect labor + $ 1,840 F Utilities + 1.50 9) 9) ) 1,510 U 624 U 18,878 (1 9) ( ( $ 7,100 ( $ ( 79,900 D. $ ( 18,820 Supplies + 5,024 4,504 4,360 Equipment depreciation 0 None 0 None Factory administration + $ 1.509) Total expense $ 322,066
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