Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $159,890 budgeted expenses include $111,520 in variable expenses for desks and $15,370 in variable expenses for chairs, as well as $33,000 of ixed expenses. Actual fixed expenses total $34,300. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 136 53 Actual Results 142 61 $ 172,720 $ 178,920 27,030 32,025 159,890 168,730 $ 39,860 $ 42,215 Variances $ 6,200 F 4,995 F 8,840 U $ 2,355 F
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $159,890 budgeted expenses include $111,520 in variable expenses for desks and $15,370 in variable expenses for chairs, as well as $33,000 of ixed expenses. Actual fixed expenses total $34,300. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 136 53 Actual Results 142 61 $ 172,720 $ 178,920 27,030 32,025 159,890 168,730 $ 39,860 $ 42,215 Variances $ 6,200 F 4,995 F 8,840 U $ 2,355 F
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $159,890
budgeted expenses include $111,520 in variable expenses for desks and $15,370 in variable expenses for chairs, as well as $33,000 of
fixed expenses. Actual fixed expenses total $34,300.
Desk sales (in units)
Chair sales (in units)
Desk sales
Chair sales
Total expenses
Income
Fixed
Budget
136
53
Actual
Results
142
61
$ 172,720
$ 178,920
27,030
159,890
32,025
168,730
$ 39,860 $ 42,215
Variances
$ 6,200 F
4,995 F
8,840 U
$ 2,355 F
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
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