Ray Company provided the following excerpts from its Production Department’s flexible budget performance report.Required:Complete the Production Department’s Flexible Budget Performance Report.Note: 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. Round "rate per hour" answers to 2 decimal places. Labor-hours (q)Direct laborIndirect laborUtilitiesSuppliesEquipment depreciationFactory administrationTotal expense$$7,80081,650(q)+++18,960 +Ray CompanyProduction Department Flexible Budget Performance ReportFor the Month Ended August 31ActualResults$1.30 (q)(q)(q)$ 1.20 (9)$$9,610199,1455,122361,120Spending Variances2,662 F1,580 U0 None$FlexibleBudget197,00520,0434,574Activity Variances960 U0 NonePlanningBudget9,13026,0604,430

Name: Ray Company provided the following excerpts from its Production Depart
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Description: Ray Company provided the following excerpts from its Production Department’s flexible budget performance report.Required:Complete the Production Department’s Flexible Budget Performance Report.Note: Indicate the effect of each variance by selecting "

The variance is the difference between the actual and budgeted production data. The flexible budget…

Business

Accounting

Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ $ $ 7,800 81,650 (9) + + 18,960 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.30 (9) (q) (q) 1.20 (q) $ $ 9,610 199,145 5,122 361,120 Spending Variances 2,662 F 1,580 U 0 None Flexible Budget $ 197,005 20,043 4,574 Activity Variances 960 U 0 None Planning Budget 9,130 26,060 4,430

Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ $ $ 7,800 81,650 (9) + + 18,960 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.30 (9) (q) (q) 1.20 (q) $ $ 9,610 199,145 5,122 361,120 Spending Variances 2,662 F 1,580 U 0 None Flexible Budget $ 197,005 20,043 4,574 Activity Variances 960 U 0 None Planning Budget 9,130 26,060 4,430

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 14.1.2P: Budget performance report for a cost center Sneed Industries Company sells vehicle parts to...

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