1 Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $160,670 budgeted expenses include $108,420 in variable expenses for desks and $17,250 in variable expenses for chairs, as well as $35,000 fixed expenses. The actual expenses include $36,700 fixed expenses. List fixed and variable expenses separately. Fixed Budget Actual Results Variances Desk sales (in units) 139 69 145 77 Chair sales (in units) Desk sales $6,530 F $184,870 40,710 $191,400 46,585 Chair sales 5,875 F Total expenses 160,670 169,390 8,720 U Income from operations $ 64,910 $ 68,595 $3,685 F Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Fav./Unf. Desk sales $ Unfavorable Chair sales Favorable Variable expenses Unfavorable Contribution margin Unfavorable Fixed expenses Unfavorable Income from operations Unfavorable 10 points eBook Print References 192,850 $ 191,400 $ 45,430 46,585 132,350 132,690 Variance 1,450 1,155 340