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Bay City Companys fixed budget performance report for July follows. The $513,000 budgeted expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include
Bay City Companys fixed budget performance report for July follows. The $513,000 budgeted expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses. |
Fixed Budget | Actual Results | Variances | ||||||||
Sales (in units) | 7,000 | 5,900 | ||||||||
Sales (in dollars) | $ | 560,000 | $ | 525,100 | $ | 34,900 | U | |||
Total expenses | 513,000 | 477,000 | 36,000 | F | ||||||
Income from operations | $ | 47,000 | $ | 48,100 | $ | 1,100 | U | |||
Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Do not round intermediate calculations.) | ||||||||||||||||||||||||||||||||||||||||||||||||
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