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Comple 1 Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses.

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Comple 1 Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 549,000 $ 58,200 $32,800 V 38,000 $ 5,200U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.) Answer is complete but not entirely correct. BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible Actual budget results Variances Fav./Unf. $ 552,000 $ 621,000 $ 69,000 Favorable 345,000 372,000 27,000 Unfavorable 207.000 249,000 42,000 Favorable 407 nnn in lume Sales Variable expenses Contribution margin OOC Clund ARAR 477 AM Drew 1 of 7 RE Nevt 1 BaLes tan dollars) Total expenses Income from operations 090, VUU 587,000 $ 53,000 OUI, 200 549,000 $ 58,200 32,BUUU 38,000 $ 5,200 W 85 oints Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.) Answer is complete but not entirely correct. BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible Actual budget results Variances Fav/Unt. $ 552,000 $ 621,000 $ 69,000 Favorable 345,000 372,000 27,000 Unfavorable 207.000 249,000 42,000 Favorable 187,000 177,000 10,000 Favorable $ 20,000 $ 72,000 $ 52,000 Favorable Sales Variable expenses Contribution margin Fixed expenses Income from operations OOOOO

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