Success Systems’ second quarter 2010 fixed budget performance report for its com

Question

Success Systems’ second quarter 2010 fixed budget performance report for its computer furniture operations follows. The $156,000 budgeted expenses include $108,000 in variable expenses for desks and $18,000 in variable expenses for chairs, as well as $30,000 fixed expenses. The actual expenses include $31,000 fixed expenses. Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately.

Explanation in excel would be greatly appreciated.

Explanation / Answer

Success Systems’

Flexible budget

Difference

Budget at

Actual cost at

favorable-F

Variable cost

Variable cost

unfavorable-U

desks

$108,000

0

favorable-F

chairs

$18,000

0

favorable-F

Fixed costs

Fixed costs

$30,000

$31,000

unfavorable-U

With the given information we can provide this

Note:- Image is not visible (format not supporting)

Thank you….

Success Systems’

Flexible budget

Difference

Budget at

Actual cost at

favorable-F

Variable cost

Variable cost

unfavorable-U

desks

$108,000

0

favorable-F

chairs

$18,000

0

favorable-F

Fixed costs

Fixed costs

$30,000

$31,000

unfavorable-U

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