Chapter 21 Homework Help Save & ExitSubmit Check my work Solitaire Company\'s fi

Question

Chapter 21 Homework Help Save & ExitSubmit Check my work 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 $60,700 fixed expenses. Actual Fixed Budget Results Variances 2.5 points 8,400 $420,000 315,000 $105,000 10,800 Sales (in units) sales (in dollars) Total expenses Income from operations $540,000 $120,000F 63,000 U $162,000 57,000 F 378,000 Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately Print SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Flexible Budget Actual Results Variances Fav./Unf Contribution margin Mc Prev 1016 ??: Next >

Explanation / Answer

Flexible budget :

Flexible budget Actual Variance Fav/Unfav Sales 540000 540000 0 None Variable cost 334800 317300 17500 Fav Contribution margin 205200 222700 17500 Fav Fixed cost 54600 60700 6100 Unfav Net operating income 150600 162000 11400 Fav

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