Bay City Companys fixed budget performance report for July follows. The $594,000 budgeted expenses include $450,000 variable expenses and $144,000 fixed expenses. Actual expenses include $134,000 fixed expenses.

	Fixed Budget			Actual Results			Variances
Sales (in units)		8,100			7,000
Sales (in dollars)	$	648,000		$	623,000		$	25,000	U
Total expenses		594,000			557,000			37,000	F
Income from operations	$	54,000		$	66,000		$	12,000	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.)