Solitaire Company\'s fixed budget performance report for June follows. The $330,

Question

Solitaire Company's fixed budget performance report for June follows. The $330,000 budgeted expenses include $290,400 variable expenses and $39,600 fixed expenses. Actual expenses include $46,200 fixed expenses ctual Fixed Budget 8,800 330,000 Results Variances 11,200 560,000 Sales (in units) Sales (in dollars) Total expenses Income from operations 440,000 $120,000 F 392,000 62,000 $110,000 $168,000 58,000 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 Sales Variable expense Contribution margin 560,000 $ 560,000 $ xed expenses from operations

Explanation / Answer

Flexible budget performance report :

Flexible budget Actual Variance Fav/Unfav Sales 560000 560000 0 None Variable cost 369600 345800 23800 Fav Contribution margin 190400 214200 23800 Fav Fixed expense 39600 46200 6600 Unfav Income from operation 150800 168000 17200 Fav

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