Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80 per unit and variable costs of $36 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report For Month Ended June 30 Flexible Budget (11,500 units) Sales Variable costs Contribution margin Fixed costs Income Actual Results Variances Favorable/Unfavorable (11,500 units) $ 35,000 Favorable 358,000 506,000 277,000 292,000