23-4 Bay City Companys fixed budget performance report for July follows. The $647,500 budgeted total expenses include $487,500 variable expenses and $160,000 fixed expenses. Actual expenses include $158,000 fixed expenses. Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. The Yellow highlights you need to calculate to answer the exercise

	Fixed Budget	Actual Results	Variance (fav)
Sales (Units)	7,500	7,200	?
Sales (Dollars)	$750,000	$737,000	($13,000)
Total Expenses
Variable Cost	$487,500	?	?
Fixed Cost	$160,000	$158,000	?
Total Expenses	$647,500	$641,000	($6,500)
Income from Operations	$102,500	$96,000	($6,500)
Green highlights you must input
	Flex Budget	Actual Results	Variance (fav)
Sales (Units)	?	?	?
Sales (Dollars)	?	?	?
Variable Cost	?	?	?
Contribution margin	?	?	?
Fixed Cost	?	?	?
Income from Operations	?	?	?