Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The...
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Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $167,460 budgeted expenses include $115,500 in variable expenses for desks and $15,960 in variable expenses for chairs, as well as $36,000 of fixed expenses. Actual fixed expenses total $37,700.
| Fixed Budget | Actual Results | Variances | ||
|---|---|---|---|---|
| Desk sales (in units) | 154 | 160 | ||
| Chair sales (in units) | 57 | 65 | ||
| Desk sales | $ 197,120 | $ 203,200 | $ 6,080 | F |
| Chair sales | 33,630 | 39,325 | 5,695 | F |
| Total expenses | 167,460 | 176,320 | 8,860 | U |
| Income | $ 63,290 | $ 66,205 | $ 2,915 | F |
Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
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