Solitaire Company\'s fixed budget performance report for June follows. The $326,

Question

Solitaire Company's fixed budget performance report for June follows. The $326,250 budgeted expenses include $287,100 variable expenses and $39,150 fixed expenses. Actual expenses include $47,850 fixed expenses. Actual Fixed BudgetResults es 8,700 435,000 326,250 $108,750 Sales (in units) 11,100 Sales (in dollars) Total expenses $555, 000 $120,000 F 388,500 621230 Income from operations $166,500 57,750 F Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Flexible Budget Actual Results Variances Fav./Unf Contribution margin

Explanation / Answer

Flexible budget Actual results Variance Fav./Unf. Sales 555000 555000 0 None Variable expenses 366300 340650 25650 Fav Contribution margin 188700 214350 25650 Fav Fixed expenses 39150 47850 8700 Unf. Income from operations 149550 166500 16950 Fav

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