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Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include...

Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Actual Results Variances Sales (in units) 6,000 4,900 Sales (in dollars) $ 480,000 $ 436,100 $ 43,900 U

Total expenses 440,000 410,000 30,000 F

Income from operations $ 40,000 $ 26,100 $ 13,900 U

Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately.

Flexible Budget actual results variances fav/unf
sales
Variable expenses
contribution margin
fixed expenses
income from operations
business   accounting   
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Sales Less: Variable cost Contribution margin Less: Fixed cost Income from operations BAY CITY COMPANY Flexible Budget perfor

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