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 (1.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Labor-hours (g) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ S S 7,400 80,650 18,880 (4) + + 4 Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Resulta $ $ 1.50 (9) (9) (9) 1.80 (4) $ $ 9,570 179,145 5,066 343,964 Spending Variances 1,870 F 1,540 U 0 None Flexible Budget S 177,045 21,865 4,534 Activity Variances 768 U 0 None Planning Budget 9,090 21,944 4,390
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 (1.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Labor-hours (g) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ S S 7,400 80,650 18,880 (4) + + 4 Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Resulta $ $ 1.50 (9) (9) (9) 1.80 (4) $ $ 9,570 179,145 5,066 343,964 Spending Variances 1,870 F 1,540 U 0 None Flexible Budget S 177,045 21,865 4,534 Activity Variances 768 U 0 None Planning Budget 9,090 21,944 4,390
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 21E: Georgia Gasket Co. budgets 8,000 direct labor hours for the year. The total overhead budget is...
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