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 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.
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
Planning
Budget
Actual
Flexible
Spending Variances
Activity Variances
Results
Budget
Labor-hours (q)
9,630
9,150
q)
$ 209,205
$ 207,045
Direct labor
$ 1.50 q)
q)
1,930 F
1,600 U
Indirect labor
+
22,015
Utilities
( $ 8,000
1,056 U
28,130
Supplies
5,150
4,594
4,450
Equipment depreciation
O None
O None
82,150
$
Factory administration
$ 1.40 q)
+
19,000
Total expense
$ 378,568
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e9f74db-68ca-409f-99ca-c3b15e89955c%2Ff4d93188-0c10-4dda-a32d-3e0886685085%2Fqoto6q8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Planning
Budget
Actual
Flexible
Spending Variances
Activity Variances
Results
Budget
Labor-hours (q)
9,630
9,150
q)
$ 209,205
$ 207,045
Direct labor
$ 1.50 q)
q)
1,930 F
1,600 U
Indirect labor
+
22,015
Utilities
( $ 8,000
1,056 U
28,130
Supplies
5,150
4,594
4,450
Equipment depreciation
O None
O None
82,150
$
Factory administration
$ 1.40 q)
+
19,000
Total expense
$ 378,568
%24
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