Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 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 $35 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Answer is not complete. Flexible Budget Performance Report Actual For Month Ended June 30 Flexible Budget Results Variances Favorable/Unfavorable (10,900 units) (10,900 units) Sales $ 872,000 $ 849,000 $ 23,000 Favorable Variable costs Contribution margin Fixed costs 381,500 352,000 29,500 Favorable 490,500 271,000 286,000 (15,000) Unfavorable Income $ 2,015,000