Question

Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. (Round "rate...

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
Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget
Labor-hours (q) 9,500 9,020
Direct labor ( q) $145,530 $142,500
Indirect labor ( + $1.10 q) 3,304 F 17,890
Utilities ( $6,700 + q) 1,470 U 432 U 14,818
Supplies ( + q) 4,968 4,464 4,320
Equipment depreciation ( $78,900 ) 0 None 0 None
Factory administration ( $18,740 + $1.10 q)
Total expense $288,734

Homework Answers

Answer #1
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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