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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 ($ 6,600 $ 78,650 $ 18,720 q) + + + $ 1.00 q) q) q) $ 1.00 q) Actual Results 9,490 $ 140,625 4,954 $ 280,191 C Spending Variances 3,670 F 1,460 U 0 None Flexible Budget $ 137,605 16,920 4,454 Activity Variances 384 U 0 None Planning Budget 9,010 13,808 4,310

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 ($ 6,600 $ 78,650 $ 18,720 q) + + + $ 1.00 q) q) q) $ 1.00 q) Actual Results 9,490 $ 140,625 4,954 $ 280,191 C Spending Variances 3,670 F 1,460 U 0 None Flexible Budget $ 137,605 16,920 4,454 Activity Variances 384 U 0 None Planning Budget 9,010 13,808 4,310

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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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 $ 6.600 $ q) 78,650) $ 18,720 + + $ 1.00 q) q) q) $ 1.00 q) Ĵ Actual Results $ 9,490 140,625 4,954 $ 280,191 Spending Variances 3,670 F 1,460 U 0 None Flexible Budget $ 137,605 16,920 4,454 Activity Variances 384 U 0 None Planning Budget 9,010 13,808 4,310
Transcribed Image Text: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 $ 6.600 $ q) 78,650) $ 18,720 + + $ 1.00 q) q) q) $ 1.00 q) Ĵ Actual Results $ 9,490 140,625 4,954 $ 280,191 Spending Variances 3,670 F 1,460 U 0 None Flexible Budget $ 137,605 16,920 4,454 Activity Variances 384 U 0 None Planning Budget 9,010 13,808 4,310
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