Return to question 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 8,888 $640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 551,000 $ 56,200 $32,800 U 36,000F $ 3,2000 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 comnlete but not entirely correct. Rotun te question 1 Incone free operations $ 53,000 $ 56,200 $ 3,200 10 poires 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 Variances Favet es 562.000 607.2008 55.200 Favorable 345.000 273,000 28,000 Unte 207.000 254 200 27.200 Favorable 187.000 177,000 (10.000) Favorable S 20.000 57 200 Ks 37.200 Favorable Sales Variable expenses Contribution margin Fixed expenses Income from operations ooooo OOOO o Next >