Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $330,000 budgeted expenses include $281,600 variable expenses and $48,400 fixed expenses. Actual expenses include $56,900 fixed expenses Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 8.800 $440,000 330,000 $110,000 Actual Results 11,200 $560,000 392,000 $168,000 $120,000 62,000 $ 58,000 Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Flexible Budget Actual Results Variances Fav./Unf. is 560,000 $ 560,000 No variance 358.4001 Favorable Ps 201,600 Favorable 48,400 Unfavorable is 153,200 $ 168,000 $ (14,800) Favorable Sales Variable expenses Contribution margin Fixed expenses Income from operations