Flexible budget performance report Refer to the budget and cost behavior data presented in Exercise 9-1 for the Sea and Sand Gift Shop. During the current year the shop had sales of $143,000 and incurred the costs displayed in the following chart.

REQUIRED Prepare a flexible budget performance report for the year.

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Sales.... Variable expenses: Commissions Actual $143,000 13,700 Store rent.... 4,790 Utilities..... 3,150 Cost of goods sold.... 46,980 Employee benefits 6,780 Property taxes 2,500 Insurance. 1,800 Total variable expenses 79,700 Fixed expenses: Salaries.... 29,000 Store rent... 6,600 Equipment rent... 3,300 Advertising.... 3,100 Utilities .... 1,800 Maintenance 3,245 Employee benefits 3,900 Property taxes 1,600 Insurance..... Total fixed expenses Total expenses Net income (loss)... 1,600 54,145 133,845 $ 9,155