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 (4) + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results @ $ 1.50 (q) (a) (9) + $ 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
Q: Cucina Corporation signed a new installment note on January 1, 2021, and deposited the proceeds of…
A: Promissory notes, also known as notes payable, are a sort of debt that a person or company promises…
Q: At the beginning of the year, Clampett, Inc. had $100,000 in its AAA, $60,000 of earnings and…
A: Introduction:- This question is related to the taxation of corporate earnings and profits,…
Q: 5. The Adams Company had total credit sales for the year of $1,500,000. As of year end, but before…
A: The allowance for doubtful accounts is the contra asset and has the credit balance. It is deducted…
Q: View Policies Current Attempt in Progress Assume Lessor Corporation wants to recover fair value,…
A: Leasing is an aggreement between lessee and lessor, where lessee uses asset of lessor in…
Q: Phoenix Company reports the following actual results. Actual sales were 18,300 units. Sales (18,300…
A: Flexible budget :— It is calculated by multiplying variable amount per unit with actual units.…
Q: The following items are reported on a company’s balance sheet: Cash $400,000 Marketable…
A: The ratio analysis helps to analyze the financial statements of the business. The current ratio is…
Q: Sandhill Ltd, a public company following IFRS, recorded a right-of-use asset and lease liability at…
A: A lease is a contract in which a landlord (the lessor) offers the tenant (the lessee) the right to…
Q: Sharkey's Fun Centre contains a number of electronic games, as well as a miniature golf course and…
A: Income statement :— It is one of the financial statement that shows profitability, total revenue and…
Q: Differential Analysis for a Lease-or-Sell Decision Inman Construction Company is considering selling…
A: Differential analysis is a technique that is used to make decisions regarding the available…
Q: Feb. 3. Sept 10 Sold merchandise on account to Dr J Hat $15.160. The cost of the merchandise sold…
A: Journal entries means the primary reporting of the transactions in the books of accounts. These are…
Q: Critical Thinking: Appendix B Overview: These problems are meant to encourage deeper thinking on the…
A: Financial statements are official records that detail a company's condition and financial…
Q: Use the following data to prepare a statement of cash flows for the year ended December 31 using the…
A: Cash Flow Statement - Cash Flow Statement is a Financial Statement that includes inflow and outflow…
Q: On July 31, 2025, Sheridan Company had a cash balance per books of $6,325.00. The statement from…
A: Bank reconciliation is the statement which is prepared by the entity to reconcile the balance of…
Q: b. fixed cost c. variable cost d. period cost
A: CVP analysis is used to identify the changes in costs and volume affect a company's operating…
Q: The term inadequacy refers to: Multiple Choice The inability of a plant asset to meet its demands.…
A: Inadequacy: Inadequancy refers to state of being inadequate ( not sufficient).when we are not…
Q: A company's average total assets is $200,000, depreciation expense is $10,000, and accumulated…
A: Asset turnover ratio is the measure that helps the entity to determine the efficiency of entity in…
Q: Current assets for Clarke Inc. totalled $1,12 2.00, and the company uses the periodic the following…
A: Dividends do not affect current assets, but they decrease retained earnings, which is a part of…
Q: n stock, 80,100 shares at $1 par $ 80,100 Paid-in capital—excess of par 168,210 Retained…
A: Event Account title Debit Credit 1 Common stock a/c Dr. $1,100 Paid in capital in excess of…
Q: Handy Products signed a contract with Cooper Manufacturing to design, develop, and produce a…
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Q: 900. Current E & P for the year is nuary 1 of the current year, Rhondell Corporation holds…
A: Return on capital (ROC) measures a company's net income relative to the sum of its debt and equity…
Q: Department F had 4,000 units in work in process that were 40% completed at the beginning of the…
A: The weighted average method is a mathematical technique used to calculate an average that takes into…
Q: Coronet Suppliers uses the percent of accounts receivable method. On December 31, it has outstanding…
A: Calculation of required allowance for doubtful accounts Outstanding accounts receivable= $80,500…
Q: You are given the following information for Sunland Company for the month ended November 30, 2024:…
A: Weighted average cost is calculated by dividing the total cost (previous + current) with the total…
Q: Eagles Ltd. uses process costing in its Fabricating Department. At the beginning of October, it had…
A: Answer:- Formulas:- 1. Cost per equivalent unit for direct material = Total direct material cost /…
Q: Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost…
A: Material variances: Direct material price variance=Standard price×Actual quantity-Actual materials…
Q: Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following…
A: The variance is the difference between the actual and standard production costs. The materials…
Q: A business operated at 100% of capacity during its first month and incurred the following costs:…
A: Variable costing: Variable costing is a concept of managerial costing. Income under variable costing…
Q: A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through…
A: Answer:- Meaning of bank reconciliation statement:- A bank reconciliation statement is basically a…
Q: Required information [The following information applies to the questions displayed below.]…
A: Inventory: It is the goods and material a business hold to sell. There are two methods for recording…
Q: Joe Swanson has an opportunity to acquire a franchise from The Yogurt Place, Inc. to dispense frozen…
A: Income statement :— It is one of the financial statement that shows profitability, total revenue and…
Q: The following information has been gathered for the Harrell Manufacturing Company for its fiscal…
A: Predetermined manufacturing overhead rate per direct labor hour=Estimated manufacturing overhead…
Q: Lara Technologies is considering a cash outlay of $210,000 for the purchase of land, which it could…
A: Opportunity cost is the value forego by not choosing that option. Opportunity cost is cost incurred…
Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…
A: The sum of money that a cardholder owes the credit card company for purchases made using the card is…
Q: 10. ABC Company sold a delivery truck for cash of $10,700. The original cost of the truck was…
A: If the cash received at the time of sale of asset is more than the book value of an asset, then…
Q: The following comparative information is available for Shamrock, Inc. for 2022. Sales revenue Cost…
A: Net income: It refers to the income earned by the business after deducting all the expenses incurred…
Q: ssignment Exercise 10-25A (Algo) Determining the effects of financing alternatives on ratios LO 10-8…
A: Current ratio is relation between current assets and current liabilities. Formula= current assets/…
Q: Natural Foods Inc. is planning to invest in new manufacturing equipment to make a new garden tool.…
A: Net Cash flow represent the amount which is available after all application of money required as per…
Q: Variance Variable factory overhead controllable variance Fixed factory overhead volume variance…
A: Standard costs are estimates of the actual costs in a company’s production process Then, the…
Q: Case II Money Short Ltd. has 1,500 shares of cumulative no par value preferred shares with a $5…
A: Retained Earnings - Retained Earnings is a Ledgers that includes Profit earned by the company over…
Q: b. Company B has current assets of $234,000, total assets of $459,000, and equity of $100,000. The…
A: Non-current liabilities are a company's commitments that are not projected to be paid off within the…
Q: Current Attempt in Progress Indigo Company's overhead rate was based on estimates of $195,600 for…
A: Variance arises when the actual costs is different from the standard costs. The results are…
Q: Shaun White founded his dream business, called Shaun's Snowboarding Adventures. The following…
A: The T-account are prepared to record the transactions to the specific accounts of the business. The…
Q: (4) (5) (6) Earnings per share $ Price-earnings ratio Payout ratio times % LA times %
A: Ratio analysis means where different ratio of various years of years companies has been compared and…
Q: Garcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record…
A: Journal entries are used to record accounting transactions in chronological order under double entry…
Q: On January 1, Year 1, Hills purchased equipment for $350,000. The equipment had an estimated useful…
A: The process of reducing the book value of the asset due to wear and tear,use,passage of time and…
Q: Kegler Bowling buys scorekeeping equipment with an invoice cost of $175,000. The electrical work…
A: As per IAS 16 "Property, plant and equipment", PPE should initially needs to record at cost. Cost…
Q: Dill Shipyards operates a dry dock on the East Coast, where it builds and repairs ships. The…
A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…
Q: Brian was working away at his first attempt at variance analysis for his manufacturing company. He…
A: Analyzing variances can help businesses identify areas where organization managers are doing well…
Q: Direct labor hours worked Standard labor hours for units manufactured Unfavorable direct labor rate…
A: Direct Labor rate variance = (Actual rate per hour - Standard labor rate per hour)*Actual hours…
Q: The following balances were taken from the books of Babsy Ltd at March 31, 2022: Motor vehicle…
A: The total amount of money or assets that a business's owners or shareholders have invested in it is…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
- 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 4,360Ray 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 4,440Ray 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 ( ( ($ 7,000 ( ( ( $ 79,650 $ 18,800 q) ) + + + + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Spending Variances $ 1.40 q) q) q) $ 1.40 q) Actual Results 9,530 $ 159,305 5,010 $ 313,459 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. (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 4,300Ray 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 4,300Ray 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 (9) (q) (q) GA 1.90 (q) 9,480 $ 134,730 SA 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 4,360Ray 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 4,370Ray 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 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 4.500Ray 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 4.430Ray 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