Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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.) Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ 8,100 $ 82,400 $ 19,020 (a) + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 $ 1.60 (9) (a) (a) $ 1.50 (4) Actual Results 9,640 $ 214,250 5,164 $ 387,316 Spending Variances 1,564 F 1,610 U 0 None Flexible Budget $ 212,080 23,004 4,604 Activity Variances 1,104 U 0 None Planning Budget 9,160 29,168 4,460 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.) Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ 8,100 $ 82,400 $ 19,020 (a) + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 $ 1.60 (9) (a) (a) $ 1.50 (4) Actual Results 9,640 $ 214,250 5,164 $ 387,316 Spending Variances 1,564 F 1,610 U 0 None Flexible Budget $ 212,080 23,004 4,604 Activity Variances 1,104 U 0 None Planning Budget 9,160 29,168 4,460
Expert Answer:
Answer rating: 100% (QA)
In order to complete the above table the following calculations must be performed which are shown below 1 Direct Labor Direct Labor per hour Flexible budget direct labor Flexible budget hours Direct L... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
Let X~ N(0, 2) be a zero mean Gaussian random variable. (a) Let X1, X2,... be IID random variables with the same distribution as X. Let Sn = X+X+...+Xn For > 0, establish the Chernoff bound on P(|Sn ...
-
Calculate the present value of the following amounts: 1. $13,000 at the end of twenty years at 10% 2. $13,000 a year at the end of the next twenty years at 10% (If using present value tables, use...
-
1. (More on the Integers Modulo n) Let us first fix n = 7 in this question. Everything below is still true for any integer n 2. Let R be the relation on Z defined by R = {(a,b) Z x Z : a = b (mod...
-
Goods 1 and 2 are available at dollar prices of p1 per unit of Good 1 and p2 per unit of Good 2. A utility function U(x 1 , x 2 ) is a function representing the utility or benefit of consuming xj...
-
The following stockholders equity accounts, arranged alphabetically, are in the ledger of Charlotte Corporation at December 31, 2012. Common Stock ($2 stated value, 1,800,000 shares authorized)...
-
Prepare General Journal entries to record the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; example, record the...
-
Elephant seals do deep dives to forage for food. The energy used by the seals in diving depends on their body composition; for example, fatter seals use less energy to swim to the surface at the end...
-
Value World produces canned chicken a la king. The chicken a la king passes through three departments: (1) Mixing, (2) Retort ( sterilization), and (3) Packing. In the Mixing Department, chicken and...
-
"Are coaching and leadership important in today's organizations and why?" Then share your experiences with coaching and leadership in the workplace. Have you had the opportunity to receive coaching?...
-
The decision maker wishes to maximize the total benefit associated with three activities X, Y, and Z. The price per unit of activities, X, Y, and Z is $1, $2, and $3 respectively. The following table...
-
Company A reported the following equity accounts on its current balance sheet. The common stock is currently selling for $12 per share. Common Stock, $5 par, 750,000 shares authorized, 250,000 shares...
-
What is an example of a financial statement from an agency in Texas ((not a private entity- public agencies only) that is most helpful in determining the fiscal health of that agency, and why?
-
Auditors use both statistical and nonstatistical sampling methods when selecting test transactions. In your own wrds, explain when you would use each method and describe the impact of the significant...
-
As to the high health care costs in the United States, employers have cut back on their coverage, shifting more of the costs to the employees by requiring them to pay a larger share of the premiums,...
-
Under Section 6694, there are several penalties that can be assessed if a taxpayer's tax liability is understated. A tax preparer prepared a tax return for a client based on the information the...
-
A method of payment for healthcare services in which the provider is paid a fixed amount for each patient regardless of the actual number or nature of services provided is called Question 5 options:...
-
For a natural number n, let (n) be the number of natural numbers less than or equal to n that are relatively prime to 3. Find the limit, with proof, of (n) lim does not exist. n For a natural number...
-
A seasonal index may be less than one, equal to one, or greater than one. Explain what each of these values would mean.
-
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds of oysters in August. The companys flexible budget for August appears below: The actual...
-
A business executive once stated, Depreciation is one of our biggest operating cash inflows. Do you agree? Explain.
-
Bowen Company manufactures one product, it does not maintain any beginning or ending inventories, and its uses a standard cost system. Its predetermined overhead rate includes $1,000,000 of fixed...
-
Determine which approach to determine the asset allocation is most appropriate for lfheah. Justify your response. The following year, Ng and the IC review the portfolios performance. The IC has...
-
Determine the investment vehicle that would be most appropriate for lfheahs proposed alternative asset class. Justify your response. The lfheah Group is a US-based company with a relatively small...
-
Determine the asset allocation approach that is most suitable for the Endowment. Justify your response. Calixto reviews the endowments future liquidity requirements and analyzes one of its holdings...
Study smarter with the SolutionInn App