Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $171,170budgeted expenses include $114,000 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $38,000 offixed expenses. Actual fixed expenses total $39,600.Desk sales (in units)Chair sales (in units)Desk salesChair salesTotal expensesIncomeFixed Budget15271For Quarter Ended June 30Desk salesChair salesVariable expensesContribution marginActualResults15879Variances.$ 199,12041,890$ 205,40047,795179,780$ 6,280 F5,905 F8,610 U171,170$ 69,840 $ 73,415 $ 3,575 FRequired:Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effectof each varlance by selecting favorable, unfavorable, or no variance.)BUSINESS SOLUTIONSFlexible Budget Performance ReportFlexible Budget Actual Results< PrevQ SearchVariance38 of 41Favorable/UnfavorableHENext >ENG

The flexible budget report compares the actual production costs with the budgeted cost of…

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.)

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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