Bay city company's fixed budget performance report for july follows. the $594,000 budgeted total expenses include $450,000 variable expenses and $144,000 fixed expenses. actual expenses include $134,000 fixed expenses. fixed budget actual results variances sales (in units) 8,100 7,000 sales (in dollars) $ 648,000 $ 623,000 $ 25,000 u total expenses 594,000 558,000 36,000 f income from operations $ 54,000 $ 65,000 $ 11,000 u prepare a flexible budget performance report that shows any variances between budgeted results and actual results. list fixed and variable expenses separately.