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 (ie., 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 Planning Activity Variances Budget Labor-hours (a) 9,520 9,040 Direct labor (a) $ 154,370 2 $ 152,320 U Indirect labor + $ 1.30 (q) 2,572 F 19,836 U Utilities $ 6,900 + (q) 1,490 U 528 U 16,844 Supplies + (a) 4,996 4,484 4,340 Equipment depreciation $ 79,400 0 None 0 None Factory administration $ 18,780 + $ 1.30 (q) F 2 Total expenses $ 304,868 2 N 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 (ie., 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 Planning Activity Variances Budget Labor-hours (a) 9,520 9,040 Direct labor (a) $ 154,370 2 $ 152,320 U Indirect labor + $ 1.30 (q) 2,572 F 19,836 U Utilities $ 6,900 + (q) 1,490 U 528 U 16,844 Supplies + (a) 4,996 4,484 4,340 Equipment depreciation $ 79,400 0 None 0 None Factory administration $ 18,780 + $ 1.30 (q) F 2 Total expenses $ 304,868 2 N