Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Fixed Budget Variances Sales (in unita) Sales (in dollars) Total expenses Income from operations 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $621,000 548,000 73,000 $19,0000 39,000 $20,000 Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Fixed Budget Variances Sales (in unita) Sales (in dollars) Total expenses Income from operations 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $621,000 548,000 73,000 $19,0000 39,000 $20,000