Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $169.380budgeted expenses include $120,000 in variable expenses for desks and $19,380 in variable expenses for chairs, as well as $30,000of fixed expenses. Actual fixed expenses total S31,500.ActualFixed Budget ResultsVariancesDesk sales (in units)150156Chair sales (in units)Desk salesChair salesTotal expenses5765$ 189,00030,210169, 380$ 49,830$ 6,000 F5,215 F$ 195,00035,425178,820$ 51,6059,440 U$ 1,775IncomeRequired:Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effectof each variance by selecting favorable, unfavorable, or no variance.)BUSINESS SOLUTIONSFlexible Budget Performance ReportFor Quarter Ended June 30Desk salesChair salesVariable expensesContribution marginFixed expensesFlexible Budget Actual ResultsVarianceFavorableiUntavorableIncome

Contribution is the excess of revenue over variable cost

Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $169,380 budgeted expenses include $120,000 in variable expenses for desks and $19,380 in variable expenses for chairs, as well as $30,000 of fixed expenses. Actual fixed expenses total $31,500. Actual Fixed Budget Results Variances Desk sales (in units) 150 156 Chair sales (in units) 57 65 Desk sales Chair sales Total expenses $ 189,000 $ 195,000 30,210 169, 380 $ 49,830 $ 6,000 5,215 F 35,425 178,820 $ $1,605 9,440 U $ 1,775 Incone Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each verience by selecting favorable, unfavorable, or no variance.) BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Desk sales Chair sales Varlable expenses Flexible Budget Actual Results Variance FavorableiUntavorable

Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $169,380 budgeted expenses include $120,000 in variable expenses for desks and $19,380 in variable expenses for chairs, as well as $30,000 of fixed expenses. Actual fixed expenses total $31,500. Actual Fixed Budget Results Variances Desk sales (in units) 150 156 Chair sales (in units) 57 65 Desk sales Chair sales Total expenses $ 189,000 $ 195,000 30,210 169, 380 $ 49,830 $ 6,000 5,215 F 35,425 178,820 $ $1,605 9,440 U $ 1,775 Incone Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each verience by selecting favorable, unfavorable, or no variance.) BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Desk sales Chair sales Varlable expenses Flexible Budget Actual Results Variance FavorableiUntavorable

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 10CE: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects...

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