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 (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 $ $ $ 8,500 83,400 19,100 (q) + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.50 (q) (q) (q) $ 1.90 (q) $ $ 9,680 234,530 5,220 415,748 Spending Variances 1,980 F 1,650 U 0 None $ Flexible Budget 232,320 22,140 4,644 Activity Variances 1,296 U 0 None Planning Budget 9,200 33,340 4,500

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 (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
$
$
$
8.500
(q)
+
+
+
83,400
19,100 +
Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Actual
Results Spending Variances
$ 1.50 (q)
(q)
(q)
$
1.90 (9)
$
$
9,680
234,530
5,220
415,748
1,980 F
1,650 U
0 None
Flexible
Budget
$ 232,320
22,140
4,644
Activity Variances
1,296 U
0 None
Planning
Budget
9,200
33,340
4.500
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. Note: 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 $ $ $ 8.500 (q) + + + 83,400 19,100 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances $ 1.50 (q) (q) (q) $ 1.90 (9) $ $ 9,680 234,530 5,220 415,748 1,980 F 1,650 U 0 None Flexible Budget $ 232,320 22,140 4,644 Activity Variances 1,296 U 0 None Planning Budget 9,200 33,340 4.500
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