value: 10.00 points Exercise 8-3 Preparation of a flexible budget performance re

Question

value: 10.00 points Exercise 8-3 Preparation of a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $667,500 budgeted expenses include $720,900 variable expenses and $53,400 fixed expenses. Actual expenses include $65,400 fixed expenses. Fixed Budget Actual ResultsVariances Sales (in units) 8,900 11,300 Sales (in dollars) Total expenses $890,000 $1,130,000 $240,000 F 791,000 123,500 U 667,500 Income from operations $222,500 339,000 $116,500 F Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately ariable expenses separately SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Favorable/ Unfavorable Flexible Budget Actual ResultsVariances Contribution margin

Explanation / Answer

Solitaire copany Flexible budget performance report For month ended june 30 Particular Flexible Budget Actual results Variances Favorable unfavorable Fixed Espenses 65400 53400 12000 Variable 667500 41400 720900 -679500 Total expenses 667500 106800 774300 -667500

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