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 Budget Actual Results Spending Variances Budget Flexible Activity Variances Labor-hours (q) 9,500 9,020 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense q) $ 145,530 $ 142,500 $ 3,304 F $ 1,470 U $ 17,890 1.10 9) 14,818 4,320 6,700 q) q)$4,968 432 U $4,464 $ 144 0 None 0 None 78,900 on18,740 1.10 9) $ 288,734

Explanation / Answer

Actual Spending variance Flexible Activity variance Planning results budget budget labor hours 9,500 9,500 9,020 Direct labor 15 145,530 3,030 U 142,500 7,200 U 135300 Indirect labor 7,440 1.1 14,586 3,304 F 17,890 528 U 17362 Utilities 6,700 0.9 16,720 1,470 U 15,250 432 U 14,818 Supplies 1,614 0.3 4,968 504 U 4,464 144 U 4,320 Equipment depreciation 78,900 78,900 0 N 78,900 0 N 78,900 Factory administration 18,740 1.1 28,030 1,160 F 29190 528 U 28662 total expense 288,734 540 U 288,194 8,832 U 279362

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