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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero varlance). 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 Actual Flexible Results Spending Variances Budget 9,550 Activity Variances Planning Budget 9,070 Labor-hours (9) Direct labor $ 169,205 $ 187,125 22.770 1.609) 1.474 F 1.520 U Id $ 7,200 + 672 U 19.898 19) 5,038 4,514 4,370 Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense ( 0 None * None 30.150) 18.840 + $ 1.804) | $ 330,689

Answer 1

				Actual results	Spending variance	Flexible budget	Activity variances	Planning budget
Labor hours (q)				9550		9550		9070
Direct labor	17.50q			169205	2080 U	167125	8400 U	158725
Indirect labor	7490	+	1.60q	21296	1474 F	22770	768 U	22002
Utilities	7200	+	1.40q	22090	1520 U	20570	672 U	19898
Supplies	1649	+	0.30q	5038	524 U	4514	144 U	4370
Equipment depreciation	80150			80150	0 None	80150	0 None	80150
Factory administration	18840	+	1.60q	32910	1210 F	34120	768 U	33352
Total expense				330689	1440 U	329249	10752 U	318497