Burton Company€™s fixed budget performance report for July follows. The $675,000 budgeted expenses include $634,500 variable expenses and $40,500 fixed expenses. Actual expenses include $52,500 fixed expenses. Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expensesseparately.

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Flxed Budget Actual Results Varlances 1.400 9,000 $900,000 675,000 Income from operations $225,000 $,40000 $240,000 F 135,000 U 0 105.000 F Sales (in dollars) Total expenses 810,000 330,000