Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete...
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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. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Answer is not complete. 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) 9,570 9,090 Direct labor $ 19.00 (q) $ 179,145 $ 2,100 ( U $ 177,045 $ 8,880 U $ 168,165 Indirect labor S 7,510 + $ 1.50 (q) 19,995 1,870 F 21,865 Utilities $ 7,400 + $ 1.60 (q) 24,252 1,540 U 22,712 768 720 U U 21,145 21,944 Supplies $ 1,654 + $ 0.30 (q) 5,066 532 U 4,534 144 U 4,390 Equipment $ 80,650 80,650 0 None 80,650 0 None 80,650 depreciation Factory administration $ 18,880 + S 1.80 (a) 34,876 1,230 F 36,106 865 U 35,242 Total expenses $ 343,984 $ 1,072 U $ 342,912 $ 11,376 ( U $ 331,536 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. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Answer is not complete. 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) 9,570 9,090 Direct labor $ 19.00 (q) $ 179,145 $ 2,100 ( U $ 177,045 $ 8,880 U $ 168,165 Indirect labor S 7,510 + $ 1.50 (q) 19,995 1,870 F 21,865 Utilities $ 7,400 + $ 1.60 (q) 24,252 1,540 U 22,712 768 720 U U 21,145 21,944 Supplies $ 1,654 + $ 0.30 (q) 5,066 532 U 4,534 144 U 4,390 Equipment $ 80,650 80,650 0 None 80,650 0 None 80,650 depreciation Factory administration $ 18,880 + S 1.80 (a) 34,876 1,230 F 36,106 865 U 35,242 Total expenses $ 343,984 $ 1,072 U $ 342,912 $ 11,376 ( U $ 331,536
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