Please help me.I need fast solution. Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $177,300budgeted expenses include $119,880 in variable expenses for desks and $21,420 in variable expenses for chairs, as well as $36,000of fixed expenses. Actual fixed expenses total $37,200.Fixed BudgetActualResultsVariancesDesk sales (in units)1481546371Chair sales (in units)Desk salesChair salesTotal expenses$ 196,84036,540177,300$ 203,28042,245186,520$ 6,440 F5,705 F9,220 UIncome$ 56,080$ 59,005$ 2,925 FRequired:Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effectof each variance by selecting favorable, unfavorable, or no variance.)For Quarter Ended June 30Desk salesChair salesVariable expensesContribution marginFixed expensesIncomeBUSINESS SOLUTIONSFlexible Budget Performance ReportFlexible Budget Actual ResultsVarianceFavorable/Unfavorable$204,820 $ 203,280 $1,540Favorable41,18042,2451,065Favorable148,880149,320440Unfavorable36,00037,2001,200No variance$61,120$2,115

BUSINESS SOLUTIONSFlexible Budget Performance ReportFor Quarter Ended June 30Flexible Budget Actual…

Answered: Business Solutions's second-quarter…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $179,710 budgeted expenses include $122.010 in variable expenses for desks and $20,700 in variable expenses for chairs, as well as $37,000 of fixed expenses. Actual fixed expenses total $38,300. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed Budget 147 69 Fixed expenses Income Actual Results 153 77 Variances $ 188,160 37,950 179,718 $ 46,400 $ 48,975 $ 2,575 F $ 194,310 43,505 188,840 Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) $ 6,150 F 5,555 F 9,130 U BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance…
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $178,970 budgeted expenses include $120,800 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $39,000 of fixed expenses. Actual fixed expenses total $40,400. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income. For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed Budget Fixed expenses Income 151 71 Actual Results 157 79 $ 202,340 $ 208,810 36,210 41,475 178,970 187,670 Variances Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) $6,470 F 5,265 P 8,700 U $ 59,580 $ 62,615 $ 3,035 F BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance…
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Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $159,370 budgeted expenses include $106,650 in variable expenses for desks and $18,720 in variable expenses for chairs, as well as $34,000 fixed expenses. The actual expenses include $35,400 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 135 72 $170, 100 42,480 159,370 $ 53,210 Fixed expenses income from operations 141 80 $176,250 48,400 168,050 $ 56,600 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. $6,150 F 5,920 F 8,680 U $3,390 F BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Variance Fav/Unt. Unfavorable Favorable…
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Sheffield Company combines its operating expenses for budget purposes in a selling and administrative expenses budget. For the first six months of 2022, the following data are available: 1. 2 3. 4 Sales: 19,800 units in quarter 1: 21.300 units in quarter 2 D Variable costs per dollar of sales: sales commissions 5%; delivery expense 2%; and advertising 4% Fixed costs per quarter: sales salaries $10,700; office salaries $8,300: depreciation $4,300; insurance $1,300: utilities $800; and repairs expense $600 Unit selling price: $19 Prepare a selling and administrative expenses budget by quarters for the first six months of 2022 SHEFFIELD COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2022 2 Total

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