Gadubhai Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate perhour" 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)Ray CompanyProduction Department Flexible Budget Performance ReportFor the Month Ended August 31ActualResultsSpending VariancesFlexibleBudgetActivity VariancesPlanningBudget9,5409,060Direct labora)$ 164,250$ 162,180Indirect labor(+$ 1.50 q)Utilities($7,100 +q)1,840 F1,510 U21,790624 U18,878Supplies(+9)5,0244,5044,360$Equipment depreciation()0 None79,9000 None$Factory administration(+$ 1.50 q)18,820Total expense$ 322,066

A flexible budget is a budget that allows changes to be made. Unlike fixed budget that is based on a…

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 $ 7,900 $ 81,900 $ 18,980 9) () + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Spending Variances $ 1.40) a) a) $ 1.30 q) Actual Results 9,620 $ 204,170 5,136 $369,836 2,296 F 1,590 U 0 None Flexible Budget $ 202,020 21,028 4,584 Activity Variances 1,008 U 0 None Planning Budget 9,140 27,094 4,440
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) om Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ $ $ 7,100 (q) . ✦ 79,900 18,820 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ S 1.50 (4) (4) (g) 1.50 (a) 9,540 $ 164,250 $ 5,024 322,066 Spending Variances 1,840 F 1,510 U 0 None Flexible Budget $ 162,180 21,790 4,504 Activity Variances 624 U 0 None Planning Budget 9,000 18,878 4,360
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. (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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ 6,500 $ 78,400 $ 18,700 |(q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.50 (q) (q) (q) $ 1.90 (q) $ $ 9,480 134,730 4,940 288,088 Spending Variances 1,780 F 1,450 U 0 None Flexible Budget $ 132,720 21,640 4,444 Activity Variances 336 U 0 None Planning Budget 9,000 12,800 4,300
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. (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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ 6,500 $ (a) 78,400 $ 18,700 Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.50 (g) (9) (4) $ 1.90 (q) 9,480 $ 134,730 $ 4,940 288,088 Spending Variances 1,780 F 1,450 U 0 None Flexible Budget $ 132,720 21,640 4,444 Activity Variances 336 U 0 None Planning Budget 9,000 12.800 4,300
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. (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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ 6,500 $ 78,400 $ 18,700 (q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results eee $ 1.50 (q) $ 1.90 (9) $ $ 9,480 134,730 4,940 288,088 Spending Variances 1,780 F 1,450 U 0 None Flexible Budget $ 132,720 21,640 4,444 Activity Variances 336 U 0 None Planning Budget 9,000 12,800 4,300
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. (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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration. Total expense $ 7,100 $ 79,900 $ 18,820 (q) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.50 (q) (9) (9) $ 1.50 (q) 9,540 $164,250 5,024 $ 322,066 Spending Variances 1,840 F 1,510 U 0 None Flexible Budget $ 162,180 21,790 4,504 Activity Variances 624 U 0 None Planning Budget 9,060 18,878 4,360
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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ SA 7,200 80,150 (q) + + + 18,840 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ 1.60 (q) (q) (q) $ 1.60 (9) GA 9,550 169,205 5,038 330,689 Spending Variances 1,474 F 1,520 U 0 None $ Flexible Budget 167,125 22,770 4,514 Activity Variances 672 U 0 None Planning Budget 9,070 19,898 4,370
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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expense $ $ $ 8.500 (q) + + + 83,400 19,100 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances $ 1.50 (q) (q) (q) $ 1.90 (9) $ $ 9,680 234,530 5,220 415,748 1,980 F 1,650 U 0 None Flexible Budget $ 232,320 22,140 4,644 Activity Variances 1,296 U 0 None Planning Budget 9,200 33,340 4.500
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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ $ $ (q) + 7,000 + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 $ 79,650 18,800 + $ 1.40 (q) (q) (q) 1.40 (q) $ $ Actual Results 9,530 159,305 5,010 313,459 Spending Variances 2,206 F 1,500 U 0 None $ Flexible Budget 157,245 20,812 4,494 Activity Variances 576 U 0 None Planning Budget 9,050 17,860 4,350
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 labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ $ $ 7,300 (9) + + + 80,400 18.860 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.70 (q) (9) (9) 1.70 (9) $ $ 9,560 174,170 5,052 339,328 Spending Variances 1,108 F 1,530 U 0 None Flexible Budget $ 172,080 23,752 4,524 Activity Variances 720 U 0 None Planning Budget 9,080 20,920 4,380
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 (a) Direct labor Indirect labor Uslities Supplies Equipment depreciation Factory administration Total expense $ 7,800 $ 81,650 $ 18,960 (4) * . Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances S 1.30 (4) (9) (4) $ 1.20 (4) $ $ 9,610 199,145 5,122 361,120 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
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 (l.e., zero. variance). Input all amounts as positive values. Round "rate per hour answers to 2 decimal places. Labor-hours (4) Direct labor Indirect labor Utilities Supplies Equipment depreciation $ Factory administration Total expenses $ 7,700 81,400 $ 18,940 (a) . . . Ray Company Production Department Flexible Budget Performance Report $ $ For the Month Ended August 31 Actual Results 1.20 (9) (4) (9) 1.10 (9) $ $ 9,000 195,130 6,108 353,420 Spending Variances 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