SP $21$ Serial Problem Business Solutions $($Algo$)$ LO P$1$

Business Solutions's second$-$quarter $2022$ fixed budget performance report for its computer furniture operations follows. The $$173,700$

budgeted expenses include $$119,850$ in variable expenses for desks and $$14,850$ in variable expenses for chairs, as well as $$39,000$

of fixed expenses. Actual fixed expenses total $$40,800.$

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.