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Connect information on X New Tab Secure https://newc html 21 Homework Help Save &Exit; Submit Check my work Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include 350,000 variable expenses and $163,000 fixed expenses. Actual expenses Include $153,000 flxed expenses. Pixed Badget Resulte Actual Varlances 7,000 560,000 Sales (in unita) 5.900 Sales (in dollara Total expenses $519,200 $40,800U 2,000P 81,000 38,200 8.800 Incone fron operations 47,000 Prepare a flexible budget performance report that shows any varlances between budgeted results and actual results List fixed and variable expenses separately BAY CITY cO Flexible Budget Performance Report For Month Ended July 31 Flexible budget Actual results Variances Contrbution margin C Prex2 of 6 Next > 3 4 6 2

Explanation / Answer

PREPARE FLEXIBLE BUDGET PERFORMANCE REPORT :

Flexible budget Actual result Variance Sales units 5900 5900 Sales 472000 519200 47200 F Variable expenses 295000 328000 33000 U Contribution margin 177000 191200 14200 F Fixed expenses 163000 153000 10000 F Net operating income 14000 38200 24200 F

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