Answer Happy

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 Flexible Results Spending Variances Budget 9,490 Actual Activity Variances Planning Budget 9,010 Labor-hours (9) $ 140,625 $ 9) + 137,605 16.920 Direct labor Indirect labor Utilities Supplies 3,670 F 1,460 U $ 6.600 $ 1.00 ) 9) 9) + 384 U 13,808 4,310 + 4,954 4.454 $ Equipment depreciation 0 None 78,650 0 None Factory administration + 18,720 $ 1.00 9) Total expense $ 280,191/