budgeted expenses include $$123,200$ in variable expenses for desks and $$15,960$ in variable expenses for chairs, as well as $$33,000$ of fixed expenses. Actual fixed expenses total $$34,400.$Fixed BudgetActual ResultsVariancesDesk sales $($in units$)154160$Chair sales $($in units$)5765$Desk sales$ $204,820$$ $211,200$$ $6,380$FChair sales$29,64034,7755,135$FTotal expenses$172,160181,0108,850$UIncome$ $62,300$$ $64,965$$ $2,665$F Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.