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., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Spending Variances Results Flexible Budget Activity Variances Planning Budget Labor-hours (q) 9,480 9,000 Direct labor (q) $ 134,730 $ 132,720 Indirect labor + $ 1.50 (q) Utilities $ 6,500 + (a) 1,780 F 1,450 U 21,640 336 U 12,800 Supplies + (a) 4,940 4,444 4,300 Equipment depreciation $ 78,400 0 None 0 None

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