$(2$ points$)$ Continuing with the prior problem assume that the year has ended, and Myles Corporation experienced the following revenues and total costs:

$$ Total revenue $$2,700,000$

$$ Total variable material costs $$272,000$

$$ Total variable labor costs $$357,000$

$$ Total factory overhead costs $$140,000$

$$ Total fixed selling expense $$68,000$

$$ Total fixed administrative costs $$117,000$

Please assemble a performance report comparing the flexible budget cost numbers from problem $4$ with the actual cost numbers given above for the year. Ignore taxes because this variable is beyond management$$s control and does not belong on the performance report. For each cost item calculate the difference and indicate if this is a favorable or unfavorable variance.