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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. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Labor-hours (q) Actual Results Spending Variances Flexible Budget Planning Activity Variances Budget 9,620 9,140 Direct labor ) a) $ 204,170 $ 202,020 Indirect labor ( + $ 1.40 q) Utilities ($7,900 + q) 2,296 F 1,590 U 21,028 1,008 U 27,094 Supplies ( + a) 5,136 4,584 4,440 $ Equipment depreciation ( ) 0 None 0 None 81,900 $ Factory administration ) + $ 1.30 q) 18,980 Total expense $ 369,836

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 Labor-hours (q) Actual Results Spending Variances Flexible Budget Planning Activity Variances Budget 9,620 9,140 Direct labor ) a) $ 204,170 $ 202,020 Indirect labor ( + $ 1.40 q) Utilities ($7,900 + q) 2,296 F 1,590 U 21,028 1,008 U 27,094 Supplies ( + a) 5,136 4,584 4,440 $ Equipment depreciation ( ) 0 None 0 None 81,900 $ Factory administration ) + $ 1.30 q) 18,980 Total expense $ 369,836

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. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Labor-hours (q) 1 Planning Budget 9,140 Actual Results Spending Variances Flexible Budget Activity Variances 9,620 Direct labor 9) $ 204,170 $ 202,020 Indirect labor ) + $ 1.40 q) Utilities ($7,900 + q) Supplies ( + 66 2,296 F 1,590 U 21,028 1,008 U 27,094 9) 5,136 4,584 4,440 $ Equipment depreciation 81,900 ) 0 None 0 None $ Factory administration + $ 1.30 g) 18,980 Total expense $ 369,836
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. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Labor-hours (q) 1 Planning Budget 9,140 Actual Results Spending Variances Flexible Budget Activity Variances 9,620 Direct labor 9) $ 204,170 $ 202,020 Indirect labor ) + $ 1.40 q) Utilities ($7,900 + q) Supplies ( + 66 2,296 F 1,590 U 21,028 1,008 U 27,094 9) 5,136 4,584 4,440 $ Equipment depreciation 81,900 ) 0 None 0 None $ Factory administration + $ 1.30 g) 18,980 Total expense $ 369,836
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