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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. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.)

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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repare 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 392000 436100 44100 Fav
Variable expenses 245000 280000 35000 Unfav
contribution margin 147000 156100 9100 Fav
fixed expenses 140000 130000 10000 Fav
Income from operation 7000 26100 19100 Fav
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