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Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Flexible Results Varlances Budget Variances Budget Activity Planning Labor-hours (q) 9,480 9,000 ? $132,720 $ 21,640 Direct labor ($?9) Indirect labor ($? + $1.50q) Utilities ($6,500 + $?q) Supplies ($? + $?q) Equipment depreciation ($78,400) .. Factory administration ($18,700 +$1.90q) . Total expense $134,730 $ ? 1,780 F 1,450 U ..... 336 U 12,800 4,300 ........ 4,940 4,444 .... $288,088 $ ... 2.

Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Flexible Results Varlances Budget Variances Budget Activity Planning Labor-hours (q) 9,480 9,000 ? $132,720 $ 21,640 Direct labor ($?9) Indirect labor ($? + $1.50q) Utilities ($6,500 + $?q) Supplies ($? + $?q) Equipment depreciation ($78,400) .. Factory administration ($18,700 +$1.90q) . Total expense $134,730 $ ? 1,780 F 1,450 U ..... 336 U 12,800 4,300 ........ 4,940 4,444 .... $288,088 $ ... 2.

FINANCIAL ACCOUNTING
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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Flexible Budget Performance Reports; working Backwards

Ray company provided the following experts from its production departments flexible budget performance report:

Required:

Complete the Production Department’s Flexible Budget Performance Report by filling in all the question marks.

Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Flexible Results Varlances Budget Variances Budget Activity Planning Labor-hours (q) 9,480 9,000 ? $132,720 $ 21,640 Direct labor ($?9) Indirect labor ($? + $1.50q) Utilities ($6,500 + $?q) Supplies ($? + $?q) Equipment depreciation ($78,400) .. Factory administration ($18,700 +$1.90q) . Total expense $134,730 $ ? 1,780 F 1,450 U ..... 336 U 12,800 4,300 ........ 4,940 4,444 .... $288,088 $ ... 2.
Transcribed Image Text:Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Flexible Results Varlances Budget Variances Budget Activity Planning Labor-hours (q) 9,480 9,000 ? $132,720 $ 21,640 Direct labor ($?9) Indirect labor ($? + $1.50q) Utilities ($6,500 + $?q) Supplies ($? + $?q) Equipment depreciation ($78,400) .. Factory administration ($18,700 +$1.90q) . Total expense $134,730 $ ? 1,780 F 1,450 U ..... 336 U 12,800 4,300 ........ 4,940 4,444 .... $288,088 $ ... 2.
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