Solitaire Company's fixed budget performance report for June follows. The $315,000 budgeted expenses include $260,400...
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Solitaire Company's fixed budget performance report for June follows. The $315,000 budgeted expenses include $260,400 variable expenses and $54,600 fixed expenses. Actual expenses include $60,700 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,400 $420,000 315,000 $105,000 Actual Results 10,800 $540,000 378,000 $ 162,000 $120,000 F 63,000 $ 57,000 F Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. Answer is complete but not entirely correct. s Sales Variable expenses Contribution margin Fixed expenses Income from operations SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Flexible Actual Variances Results Budget Fav./Unf. 540,000 $ 540,000 $ 0 No variance 334,800 315,100 X 19,700 X Favorable $ 205,200 $ 224,900 $ 19,700 Favorable 54,600 62,900 X (8,300) Unfa $ 150,600S 162,000 $ 11,400 Favorable
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