9-17 (Static) Flexible Budget Performance Reports; Working Backwards [LO 9-1, 9-2, 9-3, 9-4] 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 Results Flexible Spending Variances Activity Variances Budget Planning Budget Labor-hours (q) Direct labor 9,480 9,000 (q) $ 134,730 $ 132,720 Indirect labor + $ 1.50 (q) Utilities $ 6,500 + Supplies + 6 G (q) 1,780 F 1,450 U 21,640 336 U 12,800 (q) 4,940 4,444 4,300 $ Equipment depreciation 0 None 0 None 78,400 $ Factory administration + 18,700 Total expense $ 1.90 (q) $ 288,088