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.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Spending Variances Results Budget 9,610 Activity Variances Planning Budget 9,130 Labor-hours (9) Direct labor a) $ 199,145 $ 197,005 20,043 Indirect labor + 2,662 F 1,580 U Utilities ( $ 7,800 $ 1.309) 9) q) + 960 U 26,060 Supplies + 5,122 4,574 4,430 Equipment depreciation 0 None O None $ 81,650 $ 18,960 Factory administration + $ 1.209) Total expense $ 361,120
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