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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.ezero 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 9,580 Activity Variances Planning Budget 9.100 Labor hours (a) 5 85.13 5 1000) $ 182,020 17.100 $7.500 3.760 F 1,550 U - 816 0 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Top alo ) 5.080 4544 22.970 4.400 0 None O None 5 80,000 $ 18.900 $ 1.90 $ 345,648
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