Note:-• Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.• Answer completely.• You will get up vote for sure. 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., zerovariance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places.Labor-hours (q)Direct laborIndirect laborUtilitiesSuppliesEquipment depreciationFactory administrationTotal expenses$$$8,300|(q)+++82,90019,060 +Ray CompanyProduction Department Flexible Budget Performance ReportFor the Month Ended August 31ActualResults$$1.50 (q)(q)(q)1.70 (q)$$9,660224,3705,192400,834Spending Variances1,960 F1,630 U0 NoneFlexibleBudget$ 222,18022,0904,624Activity Variances1,200 U0 NonePlanningBudget9,18031,2504,480

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Description: Note:-• Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.• Answer completely.• You will get up vote for sure. Ray Company provided the following excerpts from its Production Department's flexi

The revenue and spending variance is the difference between the actual and flexible budget data. The…

Business

Accounting

Labor-hours (g) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ $ $ 8,300 82,900 19,060 (q) + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.50 (q) (g) (q) 1.70 (q) $ 9,660 224,370 5,192 S 400 834 Spending Variances 1,960 F 1,630 U 0 None $ Flexible Budget 222,180 22,090 4,624 Activity Variances 1,200 U 0 None Planning Budget 9,180 31,250 4,480

Labor-hours (g) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ $ $ 8,300 82,900 19,060 (q) + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.50 (q) (g) (q) 1.70 (q) $ 9,660 224,370 5,192 S 400 834 Spending Variances 1,960 F 1,630 U 0 None $ Flexible Budget 222,180 22,090 4,624 Activity Variances 1,200 U 0 None Planning Budget 9,180 31,250 4,480

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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