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.variance). Input all amounts as positive values. Round "rate per hour answers to 2 decimal places.Labor-hours (4)Direct laborIndirect laborUtilitiesSuppliesEquipment depreciation $Factory administrationTotal expenses$7,70081,400$ 18,940(a)...Ray CompanyProduction Department Flexible Budget Performance Report$$For the Month Ended August 31ActualResults1.20 (9)(4)(9)1.10 (9)$$9,000195,1306,108353,420Spending Variances3,028 F1,570 U0 NoneFlexibleBudget$ 192,00019,0604,564Activity Variances912 U0 NonePlanningBudget9,12025,0284,420

Name: Ray Company provided the following excerpts from its Production Depar
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Description: 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

A flexible budget is one that can be adjusted depending on the degree of activity. When actual costs…

Business

Accounting

abor-hours (a) irect labor direct labor tites upplies quipment depreciation actory administration otal expenses $ 7,700 $ 81,400 $ 18,940 (a) + . . Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.20 (0) (4) (4) 1.10 (4) $ $ 9,000 195,130 6,108 363,420 Spending Variances 3,028 F 1.570 U 0 None Flexible Budget $ 192.000 19.000 4,564 Activity Variances 912 U 0 None Planning Budget 9,120 25,028 4,420

abor-hours (a) irect labor direct labor tites upplies quipment depreciation actory administration otal expenses $ 7,700 $ 81,400 $ 18,940 (a) + . . Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.20 (0) (4) (4) 1.10 (4) $ $ 9,000 195,130 6,108 363,420 Spending Variances 3,028 F 1.570 U 0 None Flexible Budget $ 192.000 19.000 4,564 Activity Variances 912 U 0 None Planning Budget 9,120 25,028 4,420

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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