Bay City Companys fixed budget performance report for July follows. The $367,000 budgeted total expenses include $280,000 variable expenses and $87,000 fixed expenses. Actual expenses include $77,000 fixed expenses.

Fixed Budget

Actual Results

Variances

Sales (in units)

5,000

3,900

Sales (in dollars)

$

400,000

$

347,100

$

52,900

U

Total expenses

367,000

328,000

39,000

F

Income from operations

$

33,000

$

19,100

$

13,900

U

Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately.

BAY CITY COMPANY
Flexible Budget Performance Report
For Month Ended July 31
	Flexible budget	Actual results	Variances	Fav./Unf.
Contribution margin