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. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense d ($ 7,700 $ 81,400 $ 18,940 q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances $ 1.20 q) q) q) $ 1.10 q) 9,600 $ 195,130 5,108 $ 353,420 3,028 F 1,570 U 0 None Flexible Budget $ 192,000 19,060 4,564 Activity Variances 912 U 0 None Planning Budget 9,120 25,028 4,420
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. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense d ($ 7,700 $ 81,400 $ 18,940 q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances $ 1.20 q) q) q) $ 1.10 q) 9,600 $ 195,130 5,108 $ 353,420 3,028 F 1,570 U 0 None Flexible Budget $ 192,000 19,060 4,564 Activity Variances 912 U 0 None Planning Budget 9,120 25,028 4,420
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 21E: Madison Company uses the following rule to determine whether direct labor efficiency variances ought...
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