Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $172,880 budgeted expenses include $122.180 in variable expenses for desks and $20,700 in variable expenses for chairs, as well as $30,000 of fixed expenses Actual fixed expenses total $31,400. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 149 69 For Quarter Ended June 30 1 Dock sales Actual Results $ 199,660 41,400 172,888 155 77 $ 206,150 47,355 181,918 $ 68,180 $ 71,595 Variances $ 6,490 F 5,955 F 9,030 U $ 3,415 F 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 Favorable/Unfavorable

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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.)
For Quarter Ended June 30
Desk sales
Chair sales
Variable expenses
Contribution margin
Fixed expenses
Income
BUSINESS SOLUTIONS
Flexible Budget Performance Report
Flexible Budget Actual Results Variance:
Favorable/Unfavorable
Transcribed Image Text: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.) For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed expenses Income BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance: Favorable/Unfavorable
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $172,880
budgeted expenses include $122.180 in variable expenses for desks and $20,700 in variable expenses for chairs, as well as $30,000
of fixed expenses Actual fixed expenses total $31,400.
Desk sales (in units)
Chair sales (in units)
Desk sales
Chair sales
Total expenses
Income
Fixed Budget
149
69
For Quarter Ended June 30 2
Dock sales
Actual
Results
155
77
$ 206,150
$ 199,660
41,400
47,355
172,880
181,918
$ 68,180 $ 71,595
Variances
$ 6,490 F
5,955 F
9,030 U
$ 3,415 F
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
Favorable/Unfavorable
Transcribed Image Text:Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $172,880 budgeted expenses include $122.180 in variable expenses for desks and $20,700 in variable expenses for chairs, as well as $30,000 of fixed expenses Actual fixed expenses total $31,400. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 149 69 For Quarter Ended June 30 2 Dock sales Actual Results 155 77 $ 206,150 $ 199,660 41,400 47,355 172,880 181,918 $ 68,180 $ 71,595 Variances $ 6,490 F 5,955 F 9,030 U $ 3,415 F 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 Favorable/Unfavorable
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