Ray Company provided the following excerpts from its Required: Complete the Production Department's Flexible Budget Performance Report. (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. Round "rate per hour" answers to 2 decimal places.) Labor-hours (a) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration $6,500 $ (a) 78.400 S 18,700 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 $ 1.50 (a) (4) (4) $ 1.90 (a) Actual Results $ $ 9,480 134,730 4,940 Spending Variances 288,088 1,780 F 1,450 U of None Flexible Budget $ 132,720 21,640 4,444 Activity Variances 336 U 0 None Planning Budget 9,000 12.800 4,300

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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. (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. Round "rate per
hour" answers to 2 decimal places.)
Labor-hours (q)
Direct labor
Indirect labor
Utilities
Supplies
Equipment depreciation
Factory administration
Total expense
$ 6,500
$
(a)
78,400
$
18,700
Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Actual
Results
$ 1.50 (g)
(9)
(4)
$ 1.90 (q)
9,480
$ 134,730
$
4,940
288,088
Spending Variances
1,780 F
1,450 U
0 None
Flexible
Budget
$ 132,720
21,640
4,444
Activity Variances
336 U
0 None
Planning
Budget
9,000
12.800
4,300
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. (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. Round "rate per hour" answers to 2 decimal places.) Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ 6,500 $ (a) 78,400 $ 18,700 Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.50 (g) (9) (4) $ 1.90 (q) 9,480 $ 134,730 $ 4,940 288,088 Spending Variances 1,780 F 1,450 U 0 None Flexible Budget $ 132,720 21,640 4,444 Activity Variances 336 U 0 None Planning Budget 9,000 12.800 4,300
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