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Serial Problem Business Solutions LO P1 Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $161,230 budgeted expenses include

Serial Problem Business Solutions LO P1

Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $161,230 budgeted expenses include $109,600 in variable expenses for desks and $18,630 in variable expenses for chairs, as well as $33,000 fixed expenses. The actual expenses include $34,300 fixed expenses. List fixed and variable expenses separately.

Fixed Budget Actual Results Variances
Desk sales (in units) 137 143
Chair sales (in units) 69 77
Desk sales $ 172,620 $ 178,750 $ 6,130 F
Chair sales 36,570 41,965 5,395 F
Total expenses 161,230 169,890 8,660 U
Income from operations $ 47,960 $ 50,825 $ 2,865 F

Prepare a flexible budget performance report that shows any variances between budgeted results and actual results.

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