Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $167,230 budgeted expenses include $117,030 in variable expenses for desks and $19,200 in variable expenses for chairs, as well as $31,000 fixed expenses. The actual expenses include $32,500 fixed expenses. List fixed and variable expenses separately Desk sales (in units) chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 141 147 60 68 $179,070 $185,220 $6,150 F 30,600 35,700 5,100 F 167,230 176,630 9.000 U $ 42,440 $ 44,290 $1,850 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Variance Fav/Unt. Next G H 1 Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month 2 3 Direct materials: 4 Standard 2.4 yards @ $2.75 per yard 5 Actual $6.60 3 yards @ $2.70 per yard 6 Direct labor: $8.10 7 Standard 0,6 hours @ $18.00 per hour 10.80 8 Actual 0.5 hours GO $22.00 per hour 11.00 9 Variable overhead: 10 Standard 0.6 hours $7.00 per hour 4.20 11 Actual 0.5 hours @ $7.10 per hour 3.35 12 13 Total cost per unit $21.60 $22.65 14 SI.OS 15 Excess of actual cost over standard cost per unit 16 13,500 units 17 Actual production for the month 18 Variable overhead is assigned to products based on direct labor hours. There 19 was no beginning or ending inventory of materials for the month. 20 21 Using formulas, compute the following. Input all numbers as positive amounts. Indicate whether the variances are For U. Write if statements for variance cells F30 to F47. Use 22 cell references (formulas) for cells D53 - D60. Enter an For U to indicate the correct variance in celle 554 to F62 Sheet1 24 25 Standard Cost Variance Analysis - Direct Materials 26 Standard Quantity Allowed for Actual Output at Standard Price 27 Actual Quantity of Input, at Standard Price 28 Actual Quantity of Input, at Actual Price 29 30 Materials quantity variance 31 Materials price variance 32 33 Standard Cost Variance Analysis - Direct Labor 34 Standard Hours Allowed for Actual Output at Standard Rate 35. Actual Hours of Input, at Standard Rate 36 Actual Hours of Input, at Actual Rate 37 38 Labor efficiency variance 39 Labor rate variance 40 41 Standard Cost Variance Analysis - Variable Manufacturing Overhead 42 Standard Hours Allowed for Actual Output at Standard Rate 43 Actual Hours of Innut, at Standard Rate Sheet1 100% FEE 14 11 Standard Cost Variance Analysis - Variable Manufacturing Overhead 2 Standard Hours Allowed for Actual Output at Standard Rate #3 Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate 45 46 Variable overhead efficiency variance 47 Variable overhead rate variance 48 49 Using formulas, compute the amount of the unit cost difference 50 that is traceable to each of the variances computed above. 51 52 Materials: 53 Quantity variance 54 Price variance 55 Labor: 56 Efficiency variance 57 Rate variance 58 Variable overhead: 59 Efficiency variance 60 Rate variance * Using formulas, compute the amount of the unit cost difference 50 that is traceable to each of the variances computed above. 51 52 Materials: 53 Quantity variance 54 Price variance 55 Labor: 56 Efficiency variance 57 Rate variance 58 Variable overhead: 59 Efficiency variance 60 Rate variance 61 62 Excess of actual over standard cost per unit Check my Fongsu Co. is struggling to control costs. We are hired as consultants to determine why the company's actual costs exceed bude osts. The Tableau Dashboard is provided for our analysis. Direct Materials Standard Actual Direct Labor Standard Actual 8 $7 $17 $6 6 lbs 6 15 $14 4 lbs 4 10 N 5 2.5 hrs 2 hrs o 0 Pounds Per Unit Price Per Pound Pounds Per Unit Price Per Pound Hours Per Unit Price Per Hour Hours Per Unit Price Per Hour