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 (.e., zero variance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. Labor-hours (a) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ 7,400 $ 80,650 $ 18,880 (9) e ) + $ 1.50 ) + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results + a) $ 1.80) 9,570 $ 179,145 5,066 $ 343,984 Spending Variances 1,870 F 1,540 U 0 None Flexible Budget $ 177,045 21,865 4,534 Activity Variances 768 U 0 None Planning Budget 9,090 21,944 4,390

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