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. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget Labor-hours (q) 9,550 9,070 Direct labor ($17.50 q) $ 169,205 $ 2,080 U $ 167,125 Indirect labor + $ 1.60 q) 1,474 F 22,770 2 Utilities Supplies Equipment depreciation Factory administration Total expense ($7,200 + 9) 1,520 U 672 U 19,898 + (a) 5,038 2 4,514 2 4,370 $ ) 0 None 0 None 80,150 $ ) + $ 1.60 q) F 18,840 $ 330,689

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