Solitaire Company\'s fixed budget performance report for June follows. The $315,

Question

Solitaire Company's fixed budget performance report for June follows. The $315,000 budgeted expenses include $277 200 variable expenses and $37,800 fixed expenses. Actual expenses include $45,900 fixed expenses Fixed Budget Actual Results Variance Sales (in units) 8,400 10,800 Sales (in dollars) Total expenses $420,000 $ 540,000 $120,000 F 315,000 378,000 100,800 U Income from operations$142,800 162,000 19,200 F Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fxed and variable expenses separately SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Favorable/ Unfavorable Flexible Budget Actual Results Variances Sales ariable expenses Contribution margin xed expenses ncome from operations

Explanation / Answer

Flexible budget Actual Variances Fav/Unf. Sales 540000 540000 0 None Variable expenses 356400 332100 24300 Fav. Contribution margin 183600 207900 24300 Fav. Fixed expenses 37800 45900 8100 Unfav. Income from operations 145800 162000 16200 Fav.

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