Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. 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.) Required: Complete the Production Department's Flexible Budget Performance Report. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense d ($ 7,700 $ 81,400 $ 18,940 q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances $ 1.20 q) q) q) $ 1.10 q) 9,600 $ 195,130 5,108 $ 353,420 3,028 F 1,570 U 0 None Flexible Budget $ 192,000 19,060 4,564 Activity Variances 912 U 0 None Planning Budget 9,120 25,028 4,420

Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. 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.) Required: Complete the Production Department's Flexible Budget Performance Report. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense d ($ 7,700 $ 81,400 $ 18,940 q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances $ 1.20 q) q) q) $ 1.10 q) 9,600 $ 195,130 5,108 $ 353,420 3,028 F 1,570 U 0 None Flexible Budget $ 192,000 19,060 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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