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ID: 2372021 • Letter: #
Question
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Success Systems’ second quarter 2010 fixed
budget performance report for its computer furniture operations
follows. The $156,000 budgeted expenses include $108,000 in
variable expenses for desks and $18,000 in variable expenses for
chairs, as well as $30,000 fixed expenses. The actual expenses
include $31,000 fixed expenses. Prepare a flexible budget
performance report that shows any variances between budgeted
results and actual results. List fixed and variable expenses
separately.
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Explanation in excel would be greatly appreciated.
Explanation / Answer
Success Systems’
Flexible budget
Difference
Budget at
Actual cost at
favorable-F
Variable cost
Variable cost
unfavorable-U
desks
$108,000
0
favorable-F
chairs
$18,000
0
favorable-F
Fixed costs
Fixed costs
$30,000
$31,000
unfavorable-U
Success Systems’
Flexible budget
Difference
Budget at
Actual cost at
favorable-F
Variable cost
Variable cost
unfavorable-U
desks
$108,000
0
favorable-F
chairs
$18,000
0
favorable-F
Fixed costs
Fixed costs
$30,000
$31,000
unfavorable-U
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