Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $171,170 budgeted expenses include $114,000 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $38,000 fixed expenses. Actual fixed expenses total $39,600. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 152 71 $ 199,120 41,890 171,170 $ 69,840 Actual Results 158 79 $ 205,400 47,795 179,780 Variances $ 6,280 F 5,905 F 8,610 U $ 73,415 $ 3,575 F 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.)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $171,170
budgeted expenses include $114,000 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $38,000 of
fixed expenses. Actual fixed expenses total $39,600.
Desk sales (in units)
Chair sales (in units)
Desk sales
Chair sales
Total expenses
Income
Fixed Budget
152
71
For Quarter Ended June 30
Desk sales
Chair sales
Variable expenses
Contribution margin
Actual
Results
158
79
Variances.
$ 199,120
41,890
$ 205,400
47,795
179,780
$ 6,280 F
5,905 F
8,610 U
171,170
$ 69,840 $ 73,415 $ 3,575 F
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.)
BUSINESS SOLUTIONS
Flexible Budget Performance Report
Flexible Budget Actual Results
< Prev
Q Search
Variance
38 of 41
Favorable/Unfavorable
HE
Next >
ENG
Transcribed Image Text:Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $171,170 budgeted expenses include $114,000 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $38,000 of fixed expenses. Actual fixed expenses total $39,600. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 152 71 For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Actual Results 158 79 Variances. $ 199,120 41,890 $ 205,400 47,795 179,780 $ 6,280 F 5,905 F 8,610 U 171,170 $ 69,840 $ 73,415 $ 3,575 F 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.) BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results < Prev Q Search Variance 38 of 41 Favorable/Unfavorable HE Next > ENG
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