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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. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense S $ $ 7,100 79,900 (q) + + + 18,820 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ S 1.50 (q) (q) (q) 1.50 (q) $ $ 9,540 164,250 5,024 322,066 Spending Variances 1,840 F 1,510 U 0 None $ Flexible Budget 162,180 21,790 4,504 Activity Variances 624 U 0 None Planning Budget 9,060 18,878 4,360

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. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense S $ $ 7,100 79,900 (q) + + + 18,820 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ S 1.50 (q) (q) (q) 1.50 (q) $ $ 9,540 164,250 5,024 322,066 Spending Variances 1,840 F 1,510 U 0 None $ Flexible Budget 162,180 21,790 4,504 Activity Variances 624 U 0 None Planning Budget 9,060 18,878 4,360

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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Problem 9-17 (Algo) Flexible Budget Performance Reports; Working Backwards [LO 9-1, 9-2, 9-3, 9-4] 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. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ $ $ 7,100 79,900 18,820 (q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.50 (q) (q) (q) 1.50 (q) $ $ 9,540 164,250 5,024 322,066 Spending Variances 1,840 F 1,510 U 0 None $ Flexible Budget 162,180 21,790 4,504 Activity Variances 624 U 0 None Planning Budget 9,060 18,878 4,360
Transcribed Image Text:Problem 9-17 (Algo) Flexible Budget Performance Reports; Working Backwards [LO 9-1, 9-2, 9-3, 9-4] 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. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ $ $ 7,100 79,900 18,820 (q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.50 (q) (q) (q) 1.50 (q) $ $ 9,540 164,250 5,024 322,066 Spending Variances 1,840 F 1,510 U 0 None $ Flexible Budget 162,180 21,790 4,504 Activity Variances 624 U 0 None Planning Budget 9,060 18,878 4,360
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