Ray Company provided the following excerpts from its Production Department\'s fl

Question

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.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Planning FlexibleActivity VariancesBudge Actual Results Spending Vari Labor-hours (q) 9,610 9,130 Direct labor Indirect labor Utilities Supplies Equipment depreciation81,650 Factory administration18,960 Total expense 4) $ 199,145 S 197,005 S 20,043 $ 2,662 F $1,580 U 1.30 9) 7,800+ q) q)$5,122 26,060 4,430 960 U 4,574$ 144 0 None 0 None 1.20 Q) $ 361,120

Explanation / Answer

Actual Spending variances Flexible budget Activity variances Planning budget Labor hours 9610 9610 9130 Direct labor 20.5 q 199145 2140 U 197005 9840 U 187165 Indirect labor 7550 + 1.3 q 17381 2662 F 20043 624 U 19419 Utilities 7800 + 2 q 28600 1580 U 27020 960 U 26060 Supplies 1691 + 0.3 q 5122 548 U 4574 144 U 4430 Equipment depreciation 81650 81650 0 None 81650 0 None 81650 Factory administration 18960 + 1.2 q 29222 1270 F 30492 576 U 29916 Total expense 361120 336 U 360784 12144 U 348640

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