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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 S 78.400 $ 18,700 (q) + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.50 (a) (q) (9) $ 1.90 (a) $ 9.480 134.730 4,940 $ 288 088 Spending Variances 1.780 F 1,450 U 0 None Flexible Budget S 132,720 21,640 4.444 Activity Variances 336 U 0 None Planning Budget 9,000 12,800 4,300

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 S 78.400 $ 18,700 (q) + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.50 (a) (q) (9) $ 1.90 (a) $ 9.480 134.730 4,940 $ 288 088 Spending Variances 1.780 F 1,450 U 0 None Flexible Budget S 132,720 21,640 4.444 Activity Variances 336 U 0 None Planning Budget 9,000 12,800 4,300

FINANCIAL ACCOUNTING
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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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 $ 78.400 $ 18.700 (9) + + + + Ray Company Production Department Flexible Budget Performance Report - For the Month Ended August 31 Actual Results $ 1.50 (a) (q) $ 1.90 (q) 9.480 $ 134,730 4,940 $ 288 088 Spending Variances 1,780 F 1,450 U 0 None Flexible Budget Activity Variances $ 132,720DE 21,640 4.444 336 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 $ 78.400 $ 18.700 (9) + + + + Ray Company Production Department Flexible Budget Performance Report - For the Month Ended August 31 Actual Results $ 1.50 (a) (q) $ 1.90 (q) 9.480 $ 134,730 4,940 $ 288 088 Spending Variances 1,780 F 1,450 U 0 None Flexible Budget Activity Variances $ 132,720DE 21,640 4.444 336 U 0 None Planning Budget 9,000 12,800 4,300
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