Cimarron Company€™s fixed budget performance report for July follows. The $630,000 budgeted expenses include $588,000 variable expenses and $42,000 fixed expenses. Actual expenses include $54,000 fixed expenses. Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expensesseparately.

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Fixed Budget Actual Results Variances Sales (in units) 8,400 0.800 Sales (in dollars) .. Total expenses Income from operations.. .$840,000 630,000 $210,000 $1080,000 $240,000 F 126,000 U $324.000 $4,000 F 756,000