Bay City Company's 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. Actual Variance Fixed Budget Results Sales (in units) Sales (in dollars) Total expenses Income from operations 5,000 $400,000 367,000 $ 33,000 3,900 $351,000 49,000 U 337,0003090 30,000 F $ 14,000 $19,000u results. List fixed a variable expenses separately. BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible budget Actual results Variances Fav./Unf. Contribution margin