Solitaire Company's fixed budget performance report for June follows. The $326,250 budgeted expenses include $278,400 variable expenses and $47,850 fixed expenses. Actual expenses include $56,350 fixed expenses. Fixed Budget Variances Sales (in unita) Sales (in dollars) Total expenses Income from operations 8,700 $435,000 326,250 $108,750 Actual Results 11,100 $555,000 388,500 $166,500 $120,000 62,250 $ 57,750 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. $ $ 555,000 355,2007 555,000 298,850 Sales Variable expenses Contribution margin Fixed expenses Income from operations 0 No variance Favorable Favorable Unfavorable Favorable |