AA 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zerovariance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places.Labor-hours (q)Direct laborIndirect laborUtilitiesSuppliesEquipment depreciationFactory administrationTotal expenses$$$7,400(9)+80,65018,880 +Ray CompanyProduction Department Flexible Budget Performance ReportFor the Month Ended August 31ActualResults$$1.50 (q)(9)1.80 (4)$S9,570179,1455,066343,984Spending Varlances1,870 F1,540 U0 NoneFlexibleBudgetS177,04521,8654,534Activity Variances768 U0 NonePlanningBudget9,09021,9444,390

Direct costs are the expenses that are directly used for the production of goods and services for…

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 (1.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Labor-hours (g) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ S S 7,400 80,650 18,880 (4) + + 4 Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Resulta $ $ 1.50 (9) (9) (9) 1.80 (4) $ $ 9,570 179,145 5,066 343,964 Spending Variances 1,870 F 1,540 U 0 None Flexible Budget S 177,045 21,865 4,534 Activity Variances 768 U 0 None Planning Budget 9,090 21,944 4,390

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 (1.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Labor-hours (g) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ S S 7,400 80,650 18,880 (4) + + 4 Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Resulta $ $ 1.50 (9) (9) (9) 1.80 (4) $ $ 9,570 179,145 5,066 343,964 Spending Variances 1,870 F 1,540 U 0 None Flexible Budget S 177,045 21,865 4,534 Activity Variances 768 U 0 None Planning Budget 9,090 21,944 4,390

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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Question

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 varlance 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 expenses
$
$
$
7,400
(9)
+
80,650
18,880 +
Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Actual
Results
$
$
1.50 (q)
(9)
1.80 (4)
$
S
9,570
179,145
5,066
343,984
Spending Varlances
1,870 F
1,540 U
0 None
Flexible
Budget
S
177,045
21,865
4,534
Activity Variances
768 U
0 None
Planning
Budget
9,090
21,944
4,390

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