Biloxi Company has provided the following Actual vs Planning Budget report for the month of March. Biloxi uses customers served to measure activity.

Biloxi Company
Actual vs. Planning Budget
For the Month Ended March 31
	Actual	Planning
	Results	Budget	Variances
Customers served (q)	30,000	28,000
Revenue ($5.00q)	$ 175,000	$ 140,000	$ 35,000	F
Expenses:
Wages and salaries ($35,000 + $1.50q)	80,000	77,000	3,000	U
Supplies ($0.75q)	19,000	21,000	2,000	F
Insurance ($13,000)	13,500	13,000	500	U
Miscellaneous expense ($6,500 + $0.50q)	18,000	20,500	2,500	F
Total expenses	130,500	131,500	1,000	F
Net operating income	$ 44,500	$ 8,500	$ 36,000	F

Required: Prepare the company's flexible budget performance report for March. Label each variance as favorable (F) or unfavorable (U).

Complete the attached schedule:

Biloxi Company
Actual vs. Flexible Budget
For the Month Ended March 31
		Revenue and	Variance
	Actual	Spending	Indicator	Flexible
	Results	Variances	F/U	Budget
Customers served (q)	30,000
Revenue ($5.00q)	$ 175,000
Expenses:
Wages and salaries ($35,000 + $1.50q)	80,000
Supplies ($0.75q)	19,000
Insurance ($13,000)	13,500
Miscellaneous expense ($6,500 + $0.50q)	18,000
Total expenses	130,500
Net operating income	$ 44,500

Input all amounts in the following format: $x,xxx (all amounts other than net operating income will be positive amounts). If you have any variance that are $0, you should enter this as $0 and enter variance indicator as N/A.

Net operating income should be input in the following format: $x,xxx

Net operating loss should be input in the following format: ($x,xxx)

Input all variance indicators as: F (for positive variances) or U (for negative variances)