Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $160,120 budgeted expenses include $107,920 in variable expenses for desks and $16,200 in variable expenses for chairs, as well as $36,000 of fixed expenses. Actual fixed expenses total $37,800. 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 142 54 Actual Results $ 186,020 29,160 160, 120 148 62 $ 6,380 F 5,250 F 9,130 U $ 55,060 $ 57,560 $ 2,500 F Variances $ 192,400 34,410 169,250 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.) BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance 37,800 Favorable/Unfavorable
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $160,120 budgeted expenses include $107,920 in variable expenses for desks and $16,200 in variable expenses for chairs, as well as $36,000 of fixed expenses. Actual fixed expenses total $37,800. 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 142 54 Actual Results $ 186,020 29,160 160, 120 148 62 $ 6,380 F 5,250 F 9,130 U $ 55,060 $ 57,560 $ 2,500 F Variances $ 192,400 34,410 169,250 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.) BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance 37,800 Favorable/Unfavorable
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 10CE: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects...
Related questions
Question
Godo
![Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $160,120
budgeted expenses include $107,920 in variable expenses for desks and $16,200 in variable expenses for chairs, as well as $36,000
of fixed expenses. Actual fixed expenses total $37,800.
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
142
54
$ 186,020
29,160
160, 120
Actual
Results
148
62
$ 192,400
34,410
169,250
$ 55,060 $ 57,560
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.)
$ 6,380 F
5,250 F
9,130 U
$ 2,500 F
BUSINESS SOLUTIONS
Flexible Budget Performance Report
Flexible Budget Actual Results Variance
37,800
Favorable/Unfavorable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F50a2b28e-29db-4d0a-87af-992287791e23%2F1ba7129a-c459-4a6b-a6fe-a8a5c384290f%2F38m8n7s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $160,120
budgeted expenses include $107,920 in variable expenses for desks and $16,200 in variable expenses for chairs, as well as $36,000
of fixed expenses. Actual fixed expenses total $37,800.
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
142
54
$ 186,020
29,160
160, 120
Actual
Results
148
62
$ 192,400
34,410
169,250
$ 55,060 $ 57,560
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.)
$ 6,380 F
5,250 F
9,130 U
$ 2,500 F
BUSINESS SOLUTIONS
Flexible Budget Performance Report
Flexible Budget Actual Results Variance
37,800
Favorable/Unfavorable
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 3 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT