Ac 202 Final Problem 5 (10 points) Thomas Corporation margin of $7.00 12,000 units and $80,000 for volumes exceeding 12.000 units. Further, assume Thomas Corporation's Master Budget included sales revenue of $120,000 for this quarter, but ther typically sells a unit of its product for $12.00, resulting in a contribution per unit. Fixed costs are budgeted at $50,000 per quarter for vollumes upo actual sales revenues totaled $165,750. 1. Prepare the flexible budget for volume levels of 11,000, 13,000, and 16,000 units 2. If 13,000 units were actually sold this quarter, what is the flexible budget variance for sales revenue? Is this favorable or unfavorable? Show the work used to support your answer. If 13,000 units were actually sold this quarter, what is the volume variance for sales revenu Is this favorable or unfavorable? Show the work used to support your answer 3