Solitaire Company’s fixed budget performance report for June follows. The $333,750 budgeted expenses include $293,700 variable expenses and $40,050 fixed expenses. Actual expenses include $46,650 fixed expenses.

	Fixed Budget			Actual Results			Variances
Sales (in units)		8,900			11,300
Sales (in dollars)	$	445,000		$	565,000		$	120,000	F
Total expenses		333,750			395,500			61,750	U
Income from operations	$	111,250		$	169,500		$	58,250	F

Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately.

Answer rating: 100% (QA)

To prepare a flexible budget performance report we need to calculate the flexible budget amounts for ... View the full answer