Question $2.$ Performance Report

You are required to:

Calculate the difference, if any, between Actual and Budgt results

Consider each variance and describe whether each variance is favorable or unfavorable

Calculate each variance as $a\%$ of budget.

$\backslash$table$[[$Income$/$expense$,\backslash$table$[[$Budget$],[$$$]],\backslash$table$[[$Actual$],[$S$]],$Variance,$\backslash$table$[[$Favorable or$],[$Unfavorable$]],\backslash$table$[[$Variance as a$],[\%$ of budget$]]],[$Sales$,640000,655000,,,],[,,,,,],[$Less Variable costs,,,,,$],[$Cost of sales,$458000,494500,,,],[\backslash$table$[[$Delivery and Installation$],[$costs$]],19200,13100,,,],[$Sales commissions,$12800,16375,,,],[$TOTAL VARIABLE,$490000,523975,,,],[$Less Fixed costs,,,,,$],[$Advertising$,5200,5500,,,],[$Energy$,2800,3200,,,],[$Insurance$,2400,2400,,,],[$Office supplies,$6700,3300,,,],[$Printing & stationery,$15600,15600,,,],[$Rent$,50000,52500,,,],[$Salaries$,85700,88000,,,],[$TOTAL FIXED,$575700,611975,,,],[$TOTAL COSTS,$64300,43025,,,],[$NET INCOME,,,,,$]]$