Question

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Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate pe 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 Actual Spending Variances Flexible Results Budget 9,530 Activity Variances Planning Budget 9,050 Labor-hours (9) Direct labor $ 159,305 $ 157,245 20,812 Indirect labor $ $ $ 2,206 F 1,500U Utilities 7.000 $ 576 U $ $ 17,860 4,350 Supplies $ 5,010 $ 4,494 Equipment depreciation 0 None S None 79,650 18,800 Factory administration * 1.40 Total expense $ 313,459

Answer 1

Solution:

Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Particulars						Actual Results	Spending Variances		Flexible Budget	Activity Variances		Planning Budget
Labor-hours (q)						9,530			9,530			9,050
Direct labor	(	$17	q)			$159,305.00	$2,060.00	U	$157,245.00	$7,920.00	U	$149,325.00
Indirect labor	(	$7,470.00	+	$1.40	q)	$18,606.00	$2,206.00	F	$20,812.00	$672.00	U	$20,140.00
Utilities	(	$7,000	+	$1.20	q)	$19,936.00	$1,500.00	U	$18,436.00	$576.00	U	$17,860.00
Supplies	(	$1,635.00	+	$0.30	q)	$5,010.00	$516.00	U	$4,494.00	$144.00	U	$4,350.00
Equipment depreciation	(	$79,650	)			$79,650.00	$0.00	None	$79,650.00	$0.00	None	$79,650.00
Factory administration	(	$18,800	+	$1.40	q)	$30,952.00	$1,190.00	F	$32,142.00	$672.00	U	$31,470.00
Total expense						$313,459.00	$680.00	U	$312,779.00	$9,984.00	U	$302,795.00

Microsoft Excel Excel 8 Page Layout Review View File Home Insert Formulas Data Trace Precedents Show Formulas fix Define Name A Calculate Now Trace Dependents PUse in Formula Error Checking Calculation Calculate Sheet Options Date & Lookup & Insert AutoSum Recently Financial Logical Text Math More Name Watch Remove Arrows Evaluate Formula Window Time Reference & Trig Functions Manager Create from Selection Function Used Function Library Formula Auditing Defined Names Calculation G16 A B C D E F G H J K L M P 1 2 Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 4 Spending Activity Particulars Flexible Budget Actual Results Planning Budget Variances Variances 5 Labor-hours (g) 9530 EH6 9050 6 7 u Direct labor - K8 /K6 159305 U - K8 - N8 q) -H8 - K8 157245 =N6*D8 8 Indirect labor q) = K9 - 19 U K9 - N9 F =K9- (K6*F9) 2206 =D9+(N6*F9) 20812 1.4 9 q) = K10+ 1 10 U Utilities 7000 (N10-D10)/N6 1500 576 N10+ L10 17860 10 Supplies q) 5010 U U -H11 - K11 =K11-(K6 F11) |=(K11-N11)/(K6-N6) 4494 4350 11 144 Equipment depreciation None None 79650 - K12+ 1 12 0 ED12 ED12 0 12 q) Factory administration U D13+(N6*F13) SUM(N8:N13) F -D13+ ( K6*F13) -SUM(K8:K13) - H14-H8- H9-H10-H11-H12 18800 1.4 13 K13- H13 - K13 - N13 Total expense - K14-N14 | U -H14- K14| U 313459 14 15 16 17 18 19 Sheet92 Sheet294 (2)Shi Sheet350 (3) Sheet817 (2) Sheet521 Sheet423 (13) Sheet94 Sheet450 (2) II 100% Ready Circular References Op KExcel 10 5:52 AM KExcel 8 Can You Please Fi... Answers image (8)- Wind... 11/1/2019