4) During July, Neptune Company had actual sales of $144,000 with a volume of 64,000 units compared to budgeted sales of $156,000 of 65,000 units Actual variable cost of goods sold was $108,800, compared to a budget of $109,200 Monthly fixed expenses, budgeted at $22,400, totaled $20,000 Interest revenue of $2,000 was earned during July but had not been included in the budget Prepare a flexible budget performance report for July and explain Neptune's operating income variance (10 points)

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4) During July, Neptune Company had actual sales of $144,000 with a volume of 64,000 units compared to budgeted sales of $156,000 of 65,000 units  Actual variable cost of goods sold was $108,800, compared to a budget of $109,200  Monthly fixed expenses, budgeted at $22,400, totaled $20,000  Interest revenue of $2,000 was earned during July but had not been included in the budget  Prepare a flexible budget performance report for July and explain Neptune's operating income variance  (10 points)

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4) During July, Neptune Company had actual sales of $144,000 with a volume of 64,000 units compared to budgeted sales of $156,000 of 65,000 units.

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