Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $163,970budgeted expenses include $118,150 in variable expenses for desks and $14,820 in variable expenses for chairs, as well as $31,000 offixed expenses. Actual fixed expenses total $32,900.Desk sales (in units)Chair sales (in units)Desk sales.Chair salesTotal expensesIncomeFor Quarter Ended June 30Desk salesChair salesVariable expensesContribution marginFixed Budget13957Fixed expensesIncomeActualResults$ 176,53030, 210163,97014565Variances$ 6,170 F$ 182,70035,425173,3805,215 F9,410 U$ 42,770 $ 44,745 $ 1,975 FRequired:Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effectof each variance by selecting favorable, unfavorable, or no variance.)BUSINESS SOLUTIONSFlexible Budget Performance ReportFlexible Budget Actual Results VarianceFavorable/Unfavorable

The variance is the difference between the standard and actual cost data. The variance can be…

Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $163,97 budgeted expenses include $118,150 in variable expenses for desks and $14,820 in variable expenses for chairs, as well as $31,000 fixed expenses. Actual fixed expenses total $32,900. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 139 57 Actual Results 145 65 $ 182,700 $ 176,530 30,210 163,970 35,425 173,380 $ 42,770 $ 44,745 Variances $ 6,170 F 5,215 F 9,410 U $ 1,975 F 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.)

Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $163,97 budgeted expenses include $118,150 in variable expenses for desks and $14,820 in variable expenses for chairs, as well as $31,000 fixed expenses. Actual fixed expenses total $32,900. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 139 57 Actual Results 145 65 $ 182,700 $ 176,530 30,210 163,970 35,425 173,380 $ 42,770 $ 44,745 Variances $ 6,170 F 5,215 F 9,410 U $ 1,975 F 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.)

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 10CE: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects...

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Taylor Corporation is analyzing the cost behavior of three cost items, A, B, and C, to budget for the upcoming year. Past trends have indicated the following dollars were spent at three different levels of output: In establishing a budget for 14,000 units, Taylor should treat A, B, and C costs as: a. semivariable, fixed, and variable, respectively. b. variable, fixed, and variable, respectively. c. semivariable, semivariable, and semivariable, respectively. d. variable, semivariable, and semivariable, respectively.
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $178,970 budgeted expenses include $120,800 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $39,000 of fixed expenses. Actual fixed expenses total $40,400. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income. For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed Budget Fixed expenses Income 151 71 Actual Results 157 79 $ 202,340 $ 208,810 36,210 41,475 178,970 187,670 Variances 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.) $6,470 F 5,265 P 8,700 U $ 59,580 $ 62,615 $ 3,035 F BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance…
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