Exercise 8-3 Preparing a flexible budget performance report LO P1

Exercise 8-3 Preparing a flexlble budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $326,250 budgeted expenses include $304,500 variable expenses and $21,750 fixed expenses. Actual expenses include $30,150 fixed expenses Actual Fixed Budget Variances Results Sales (in units) 8,700 11,100 Sales (in dollars) Total expenses Income from operations $435,000 326,250 555,000 $120,000 F 388,500 62,250 U $ 57,750 F $108,750 166,500 Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Flexible Budget Actual Results Variances Fav./Unf. Contribution margin