11. Solitaire Company’s fixed budget performance report for June follows. The $3

Question

11.

Solitaire Company’s fixed budget performance report for June follows. The $303,750 budgeted expenses include $275,400 variable expenses and $28,350 fixed expenses. Actual expenses include $37,050 fixed expenses.

Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately.

Fixed Budget Actual Results Variances Sales (in units) 8,100 10,500 Sales (in dollars) $ 405,000 $ 525,000 $ 120,000 F Total expenses 303,750 367,500 63,750 U Income from operations $ 101,250 $ 157,500 $ 56,250 F

Explanation / Answer

Answer:-

Explanation:-

Actual variable expense = Total expense-fixed expense

=$367500-$37050 =$330450

Flexible Budget Performance Report For the month ended June 30 Particulars Flexible Budget Actual Results Variances Remark $ $ $ Sales In Dollars $405000/8100 units*10500 units 525000 525000 0 Less:- Variable expenses $275400/8100 units*10500 units 357000 330450 26550 Favourable Contribution margin 168000 194550 Less: Fixed Expenses 28350 37050 -8700 Unfaourable Income from opreations 139650 157500 17850 Favourable

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