Problem 9-17 (Algo) 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 Spending Variances Flexible Budget Activity Variances Planning Budget Labor-hours (q) 9,520 9,040 Direct labor (a) $ 154,370 $ 152.320 Indirect labor . $ 1.30 (q) Utilities $ 6.900 (a) 2,572 F 1,490 U 19,836 528 U 16,844 Supplies + (q) 4,996 4,484 4,340 Equipment depreciation $ 0 None 0 None 79,400 $ Factory administration . $ 1.30 (q) 18.780 Total expense $ 304,868