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 Planning Activity Variances Budget Labor-hours (q) 9,660 9,180 Direct labor (q) $ 224,370 $ Indirect labor + $ 1.50 (q) Utilities $ 8,300 + (q) 1,960 F 1,630 U 222,180 22,090 1,200 U 31,250 Supplies + (q) 5,192 4,624 4,480 Equipment depreciation $ 82,900 0 None 0 None Factory administration $ 19,060 + $ 1.70 (9) Total expenses $ 400,834
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 Planning Activity Variances Budget Labor-hours (q) 9,660 9,180 Direct labor (q) $ 224,370 $ Indirect labor + $ 1.50 (q) Utilities $ 8,300 + (q) 1,960 F 1,630 U 222,180 22,090 1,200 U 31,250 Supplies + (q) 5,192 4,624 4,480 Equipment depreciation $ 82,900 0 None 0 None Factory administration $ 19,060 + $ 1.70 (9) Total expenses $ 400,834
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
None
Transcribed Image Text: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
Planning
Activity Variances
Budget
Labor-hours (q)
9,660
9,180
Direct labor
(q)
$
224,370
$
Indirect labor
+
$
1.50 (q)
Utilities
$
8,300
+
(q)
1,960 F
1,630 U
222,180
22,090
1,200 U
31,250
Supplies
+
(q)
5,192
4,624
4,480
Equipment depreciation
$
82,900
0 None
0 None
Factory administration
$
19,060
+
$
1.70 (9)
Total expenses
$
400,834
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education