Reference no: EM132658340

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.

		Fixed Budget	Actual Results	Variances
Sales	(in units)	7,000	5,900
Sales	(in dollars)	$560,000	$525,100	$34,9000
Total	expenses	513,000	483,000	30,000F
Income	from operations	$     47,000	$ 42,100	C 4,9000

Question 1: Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.)