Business Solutions' second quarter 2012 fixed budget performance report for its computer furniture operations follows. The $177,270 budgeted expenses include $123,120 in variable expenses for desks and $18,150 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. Actual Variances Fixed Budget Results 158 63 152 194,560 33.000 177.270 50.290 s 52925 s 2.635 F Desk sales (in units) Chair sales (in units) Desk sales (in dollars) 200.660 s 6100F 38.745 s 5745 F 186.480 s 9.210 u Chair sales (in dollars) Total expenses Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Variances s i58010 945 $1202240|0 $20066010 Desk sales Chair sales | O Variable expenses Contribution margin U] F [3780010 38745 20790 M Fixed expenses ! 36.000 $52925 Income from operationso