Solitaire Company’s fixed budget performance report for June follows. The $315,000 budgeted expenses include $294,000 variable expenses and $21,000 fixed expenses. Actual expenses include $27,000 fixed expenses. Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately.

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Fixed Budget Actual Results Variances Sales (In units). Sales (In dollars) 8,400 10,800 $420,000 $540,000 Total expenses. 315,000 378,000 $120,000 F 63,000 U Income from operations $105,000 $162,000 $ 57,000 F