PLEASE HELP :( Solitaire Company’s fixed budget performance report for June foll
ID: 2478562 • Letter: P
Question
PLEASE HELP :(
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 $62,800 fixed expenses.
Fixed Budget
Actual Results
Variances
Sales (in units)
8,400
10,800
Sales (in dollars)
$
420,000
$
540,000
$
120,000
F
Total expenses
315,000
378,000
63,000
U
Income from operations
$
105,000
$
162,000
$
57,000
F
Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately.
Fixed Budget
Actual Results
Variances
Sales (in units)
8,400
10,800
Sales (in dollars)
$
420,000
$
540,000
$
120,000
F
Total expenses
315,000
378,000
63,000
U
Income from operations
$
105,000
$
162,000
$
57,000
F
Explanation / Answer
Solitaire Company
Flexible Budget Performance Report
Flexible Budget Actual Results Variances Favorable/ Unfavorable Activity level 10,800 10,800 None None Sales 540,000 540,000 None None Variable costs 334,800 315,200 19,600 Favorable Contribution margin 205,200 224,800 19,600 Favorable Fixed expenses 54,600 62,800 8,200 Unfavorable Income from operations 150,600 162,000 11,400 FavorableRelated Questions
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