KQuestion 5 (of 11) Save & Exit 5. value: 2.00 points Solitaire Company\'s fixed

Question

KQuestion 5 (of 11) Save & Exit 5. value: 2.00 points Solitaire Company's fixed budget performance report for June follows. The $300,000 budgeted expenses include $280,000 variable expenses and $20,000 fixed expenses. Actual expenses include $26,200 fixed expenses Fixed Budget Actual Results Variances 10,400 Sales (in units) 8,000 $400,000 $ 520,000 $120,000 F Sales (in dollars) Total expenses 300,000 364,00064,000 U $100,000 156,000 56,000 F Income from operations Prepare a flexible budget performance report showing any variances between budgeted and actual results List fixed and variable expenses separately SOLITAIRE COMPANY

Explanation / Answer

Preparation of flecible budget performance report -

Note - Fixed expenses would not be changed in flexible budget.

in case of further explanation required please comment.

Please note all values are in $.

Particulars Fixed Flexible Actual Variances Favoruable/Unfavourable Sales in units 8000 10400 10400 0 Sale (in dollars) 400000 520000 520000 0 Variable expenses 280000 364000 337800 26200 Favourable Contribution Margin 120000 156000 182200 -26200 Favourable fixed 20000 20000 26200 -6200 Unfavourable Income from operation 100000 136000 156000 -20000 Favourable

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