B. Flexible Budgeting and Overhead Variance Analysis Case 1. Below are Baxter Company's flexible budget data for two levels of activity. These budgets were prepared prior to the start of the accounting period. The far right column contains the actual results for the period. Budget Actual Results Revenue 600,000 800.000 750,000 Salaries Depreciation building Rent for equipment Utilities Property taxes Linen service Supplies 228,000 108,000 40,000 46,000 26,000 92.000 50,000 590,000 10,000 248,000 108,000 44,000 56,000 26,000 122,000 66,000 670,000 130,000 246,000 108,000 47,000 64.000 25,000 112,000 58,000 660,000) 90,000 Net income Required: Prepare a flexible budget performance report for the actual level of activity