Exercise 8-3 Preparing a flexible budget performance report LO P1 Solitaire Comp

Question

Exercise 8-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $315,000 budgeted expenses include $252,000 variable expenses and $63,000 fixed expenses Actual expenses include $69,900 fixed expenses. 10 points Fixed Budget Results Sales (in units) Sales (in dollars) Total expenses Incone from operations 18,888 $428,800$548,880 162,809 8,408 5128,889F 63,9a0u 57,880 F 378,800638 315,800 $185,88e Hirt Ask Print PPrepare o fiexibie budget performance report showing any variances between budgeted and actual resu Referances expenses separately SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Flexible Budget Actual Results Variances Contrebation margn

Explanation / Answer

Flexible budget Actual Variances Fav./Unf Sales 540000 540000 0 None Variable expenses 324000 308100 15900 Fav Contribution margin 216000 231900 15900 Fav Fixed expenses 63000 69900 6900 Unf Income from operations 153000 162000 9000 Fav

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