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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 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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