Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $166,660 budgeted expenses include $110,200 in variable expenses for desks and $20,460 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 151 145 66 74 $ 194,300 35,640 166,660 $ 63,280 $200,830 41,070 175,330 $ 66,570 $6,530 F 5,430 F 8,670 U $3,290 F Prepare a flexible budget performance report that shows any variances between budgeted results and actual results.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The
$166,660 budgeted expenses include $110,200 in variable expenses for desks and $20,460 in variable expenses for chairs, as well as
$36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. List fixed and variable expenses separately.
Desk sales (in units)
Chair sales (in units)
Desk sales
Chair sales
Total expenses
Income from operations
Desk sales
Chair sales
Variable expenses
Contribution margin
Fixed Budget Actual Results Variances
145
66
Fixed expenses
Income from operations
$ 194,300
35,640
166,660
$ 63,280
151
74
$200,830
41,070
175,330
$ 66,570
Prepare a flexible budget performance report that shows any variances between budgeted results and actual results.
BUSINESS SOLUTIONS
Flexible Budget Performance Report
For Quarter Ended June 30
Flexible Budget Actual Results
$6,530 F
5,430 F
8,670 U
$3,290 F
Variance
Fav./Unf.
Unfavorable
Favorable
Unfavorable
Unfavorable
Unfavorable
Unfavorable
Transcribed Image Text:Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $166,660 budgeted expenses include $110,200 in variable expenses for desks and $20,460 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Desk sales Chair sales Variable expenses Contribution margin Fixed Budget Actual Results Variances 145 66 Fixed expenses Income from operations $ 194,300 35,640 166,660 $ 63,280 151 74 $200,830 41,070 175,330 $ 66,570 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results $6,530 F 5,430 F 8,670 U $3,290 F Variance Fav./Unf. Unfavorable Favorable Unfavorable Unfavorable Unfavorable Unfavorable
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