Engineworks Co. provides the following fixed budget data for the year: Sales (20,000 units) Cost of sales: Direct materials. Direct labor Variable overhead Fixed overhead... Gross profit..... Operating expenses: Fixed Variable Income from operations The company's actual activity for the year follows: Sales (21,000 units).. Cost of goods sold: Direct materials Direct labor.... Variable overhead Fixed overhead Gross profit ..... Operating expenses: Fixed Variable Income from operations. ***** ****** $200,000 160,000 60,000 80,000 $12,000 40,000 $231,000 168,000 73,500 77,500 12,000 39,500 $651,000 550,000 $101,000 51,500 $49,500 $600,000 500,000 $100,000 52,000 $ 48,000 Required: Prepare a flexible budget performance report for the year using the contribution margin format.