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Name: Flexible Budget Performance Report Project Kelseys Frozen Confectioneries buys and distributes single-serve ice cream treats, Popsicle, etc., such as those sold at convenience stores, sporting events and amusement parks. Download the Excel file containing Kelseys budget assumptions and actual figures for June. The file also contains a draft for both a 1) master budget performance report, and 2) a flexible budget performance report.

For the month ended June 30 MASTER BUDGET VARIANCE VAR. % For U ACTUAL 21,460 Volume (in cases) $ 1,131,020 $ $ 682,880 58,685 44,213 16,930 328,312 $ Sales Revenue Less Variable Expenses: Cost of Goods Sold Sales Commissions Shipping Expense Bad debt expense Contribution Margin Less Fixed Expenses: Salaries Lease on Distn center Deprec. on fleet/equip Advertising Office rent, phone, net Operating Income $ $ $ $ $ 43,000 15,500 12,000 7,750 12,300 237,762 Kelsey's Frozen Confectionaries Fexible Budget Performance Report For the month ended June 30 FLEXIBLE BUDGET MASTER BUDGET ACTUAL Volume Sales Revenue 20,000 cases 50.00 per case S Percent sold on credit 90% percent of sales Variable Expenses: CGS Sales Commission Shipping Expense Bad Debt Expense $ $ 30.00 per case 2.50 per case 2.00 per case 1.00% percent of credit sales Fixed Monthly Expenses: Salaries Lease on Distribution center Depreciation on fleet & Equip Advertising Office rent, phone, internet $ $ $ $ $ 40,000 17,000 12,000 10,000 11,000 Management by exception 15% Investigation rule

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