Solitaire Company’s fixed budget performance report for June follows. The $630,0

Question

Solitaire Company’s fixed budget performance report for June follows. The $630,000 budgeted expenses include $697,200 variable expenses and $67,200 fixed expenses. Actual expenses include $79,200 fixed expenses.

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) $ 840,000 $ 1,080,000 $ 240,000 F   Total expenses 630,000 756,000 126,000 U      Income from operations $ 210,000 $ 324,000 $ 114,000 F   

Explanation / Answer

Particulars Flexibel Budget Units 10800 Sales (840000/8400*10800) 1080000 Expenses Variable Expenses 896400 Fixed Expenses 67200 Income from operations 116400

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