Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4 Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $178,870 budgeted expenses include $122,310 in variable expenses for
4 Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $178,870 budgeted expenses include $122,310 in variable expenses for desks and $18,560 in variable expenses for chairs, as well as $38,000 of fixed expenses. Actual fixed expenses total $39,300. 0.9 points Fixed Budget Actual Results Variances Desk sales (in units) 151 157 Chair sales (in units) 58 66 Desk sales $196,300 $ 202,530 eBook Chair sales Total expenses 30,740 178,870 35,970 187,910 $ 6,230 F 5,230 F 9,040 U Incone $ 48,170 $ 50,590 $ 2,420 F Print References Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Quarter Ended June 30 BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance Favorable/Unfavorable. Desk sales Chair sales Variable expenses Contribution margin Fixed expenses Income A of 11 Navi
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To prepare a flexible budget performance report well adjust the budget based on actual sales units and then compare it with the actual results to dete...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started