Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses.

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

Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted to variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expens Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 6,000 $480,000 440,000 $ 40,000 Actual Results 4,900 $ 431,200 407,000 $ 24, 200 $ 48,800 U 133,000 F $ 15,800 U Prepare a flexible budget performance report that shows any variances between budgeted result variable expenses separately. (Indicate the effect of each variance by selecting for favorable, u round your intermediate calculations. Round your final answers to whole dollars.) BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible budget Actual results Variances Fav./Unf