Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $165,74 budgeted expenses include $114,000 in variable expenses for desks and $20,740 in variable expenses for chairs, as well as $31,000 of fixed expenses. Actual fixed expenses total $32,200. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 152 61 Actual Results 158 69 $ 197,600 31,110 165,740 $ 203,820 36,225 174,470 $ 62,970 $ 65,575 Variances $ 6,220 F 5,115 F 8,730 U $ 2,605 F Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results.

Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $165,74 budgeted expenses include $114,000 in variable expenses for desks and $20,740 in variable expenses for chairs, as well as $31,000 of fixed expenses. Actual fixed expenses total $32,200. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 152 61 Actual Results 158 69 $ 197,600 31,110 165,740 $ 203,820 36,225 174,470 $ 62,970 $ 65,575 Variances $ 6,220 F 5,115 F 8,730 U $ 2,605 F Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results.

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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