Snippet:

Business Solutions second quarter 2012 fixed budget performance report for its computer furniture operations follows. The $170,600 budgeted expenses include $111,520 in variable expenses for desks and $21,080 in variable expenses for chairs, as well as $38,000 fixed expenses. The actual expenses include $39,800 fixed expenses.

Entire question:

Serial Problem Business Solutions L.O. P1 Business Solutions' second quarter 2012 fixed budget performance report for its computer furniture operations follows. The $170,600 budgeted expenses include $111,520 in variable expenses for desks and $21,080 in variable expenses for chairs, as well as $38,000 fixed expenses. The actual expenses include $39,800 fixed expenses Actual Fixed Budget Results Variances 136 62 178160 s 142 70 Desk sales (in units) Chair sales (in units) Desk sales (in dollars) Chair sales (in dollars) Total expenses Income from operations 184600 s 6,440 F $38,150 5,290 F s 9,770 U 42.380 s 1,960 F 170,600180,370 40,420 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Variances Desk sales Chair sales Variable expenses Click to select v (Click to select) v Click to select v Contribution margin (Click to select) v Click to select v Fixed expenses Income from operations (Click to select) v