ACCT $1120$ Review Assignment $\backslash (\backslash$mathbf$\{$i$\}\backslash )$

$2$

Business Solutions's second$-$quarter $2022$ fixed budget performance report for its computer furniture operations follows. The $\backslash (\backslash$$ $159,960\backslash )$ budgeted expenses include $\backslash (\backslash$$ $106,400\backslash )$ in variable expenses for desks and $\backslash (\backslash$$ $14,560\backslash )$ in variable expenses for chairs, as well as points $\backslash (\backslash$$ $39,000\backslash )$ of fixed expenses. Actual fixed expenses total $\backslash (\backslash$$ $40,800\backslash ).$

References

Required:

Prepare a flexible budget performance report that shows variances between budgeted results and actual results.

Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.

$\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|$l$|$l$|$l$|\}$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$c$|\}\{$ BUSINESS SOLUTIONS $\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$c$|\}\{$ Flexible Budget Performance Report $\}\backslash \backslash$

$\backslash$hline For Quarter Ended June $30$ & Flexible Budget & Actual Results & Variance & Favorable or Unfavorable $\backslash \backslash$

$\backslash$hline Desk sales & & & $\backslash \backslash$

$\backslash$hline Chair sales & & & $\backslash \backslash$

$\backslash$hline Variable expenses & & & $\backslash \backslash$

$\backslash$hline Contribution margin & & & $\backslash \backslash$

$\backslash$hline Fixed expenses & & & $\backslash \backslash$

$\backslash$hline Income & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$