Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The$166,660 budgeted expenses include $110,200 in variable expenses for desks and $20,460 in variable expenses for chairs, as well as$36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. List fixed and variable expenses separately.Desk sales (in units)Chair sales (in units)Desk salesChair salesTotal expensesIncome from operationsDesk salesChair salesVariable expensesContribution marginFixed Budget Actual Results Variances14566Fixed expensesIncome from operations$ 194,30035,640166,660$ 63,28015174$200,83041,070175,330$ 66,570Prepare a flexible budget performance report that shows any variances between budgeted results and actual results.BUSINESS SOLUTIONSFlexible Budget Performance ReportFor Quarter Ended June 30Flexible Budget Actual Results$6,530 F5,430 F8,670 U$3,290 FVarianceFav./Unf.UnfavorableFavorableUnfavorableUnfavorableUnfavorableUnfavorable

The flexible budget performance report is prepared to compare the actual cost and revenue with the…

Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $166,660 budgeted expenses include $110,200 in variable expenses for desks and $20,460 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 151 145 66 74 $ 194,300 35,640 166,660 $ 63,280 $200,830 41,070 175,330 $ 66,570 $6,530 F 5,430 F 8,670 U $3,290 F Prepare a flexible budget performance report that shows any variances between budgeted results and actual results.

Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $166,660 budgeted expenses include $110,200 in variable expenses for desks and $20,460 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 151 145 66 74 $ 194,300 35,640 166,660 $ 63,280 $200,830 41,070 175,330 $ 66,570 $6,530 F 5,430 F 8,670 U $3,290 F Prepare a flexible budget performance report that shows any variances between budgeted results and actual results.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 1CMA: Taylor Corporation is analyzing the cost behavior of three cost items, A, B, and C, to budget for...

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