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 Labor-hours (q) Actual Spending Variances Results Flexible Budget Activity Variances Planning Budget 9,540 9,060 Direct labor ( a) $ 164,250 $ 162,180 Indirect labor ( + $ 1.50 q) Utilities $ 7,100 + q) 1,840 F 1,510 U 21,790 624 U 18,878 Supplies + a) 5,024 4,504 4,360 $ Equipment depreciation ( 79,900 ) 0 None 0 None $ Factory administration ) 18,820 + $ 1.50 q) Total expense $ 322,066
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 Labor-hours (q) Actual Spending Variances Results Flexible Budget Activity Variances Planning Budget 9,540 9,060 Direct labor ( a) $ 164,250 $ 162,180 Indirect labor ( + $ 1.50 q) Utilities $ 7,100 + q) 1,840 F 1,510 U 21,790 624 U 18,878 Supplies + a) 5,024 4,504 4,360 $ Equipment depreciation ( 79,900 ) 0 None 0 None $ Factory administration ) 18,820 + $ 1.50 q) Total expense $ 322,066
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 10E
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