Budget Performance Report Assignment

Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses. Actual Fixed Budget Variances Results Sales (in units) Sales (in dollars) Total expenses 7,000 5,900 $560,000 $525,100 $34,900 U 513,000 480,000 33,000 F 1,900 U $ 47,000 $ 45,100

Income from operations Prepares a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible budget Actual results Variances Fav/Unf. Contribution margin. .