FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Vikram Bhai 

Problem 9-17 (Static) Flexible Budget Performance Reports; Working Backwards [LO 9-1, 9-2, 9-3, 9-4] 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places.) Labor-hours (q) Direct labor Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget 9,480 9,000 q) $ 134,730 $ 132,720 Indirect labor Utilities $ 6,500 Supplies $ Equipment depreciation 78,400 $ Factory administration $ 1.90 q) 18,700 Total expense $ 288,088 + $ 1.50 q) + q) 1,780 F 1,450 U 21,640 336 U 12,800 + a) 4,940 4,444 4,300 0 None 0 None
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Transcribed Image Text:Problem 9-17 (Static) Flexible Budget Performance Reports; Working Backwards [LO 9-1, 9-2, 9-3, 9-4] 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 varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places.) Labor-hours (q) Direct labor Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget 9,480 9,000 q) $ 134,730 $ 132,720 Indirect labor Utilities $ 6,500 Supplies $ Equipment depreciation 78,400 $ Factory administration $ 1.90 q) 18,700 Total expense $ 288,088 + $ 1.50 q) + q) 1,780 F 1,450 U 21,640 336 U 12,800 + a) 4,940 4,444 4,300 0 None 0 None
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