Question - Solitaire Company's fixed budget performance report for June follows. The $303.750 budgeted expenses include $267,300 variable expenses and $36,450 fixed expenses. Actual expenses include $42,750 fixed expenses.
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Fixed Budget
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Actual Results
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Variances
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Sales (in units)
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8,100
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10,500
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Sales (in dollars)
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$405,000
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$525,000
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$120,000 F
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Total expenses
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303,750
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367,500
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100,200 U
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Income from operations
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$137,700
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$157,500
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$19,800 F
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Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately.