undefined

Serial Problem Business Solutions LO P1 Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $166,560 budgeted expenses include $113,160 in variable expenses for desks and $17,400 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,800 fixed expenses. List fixed and variable expenses separately. Variances Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results 138 144 60 68 $ 175,260 $ 181,440 32,400 37,740 166,560 176,070 $ 41,100 $ 43,110 $ 6,180 F 5,340 F 9,510 U $2,010 F Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Variance $ 182,880 $ 181,440 $ 1,440 36,720 37,740 1,020 Fav./Unf. Unfavorable Favorable Desk sales Chair sales Variable expenses Contribution margin Fixed expenses Income from operations