Exercise 21-4 Preparing a flexible budget performance report LO P1 Xion Co, budgets a selling price of $85 per unit, variable costs of $34 per unit, and total fixed costs of $285,000. During June, the company produced and sold 12,300 units and incurred actual variable costs of $366,000 and actual fixed costs of $300,000. Actual sales for June were $1,090,000 Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Sales Variable expenses Contribution margin Fixed expenses Income from operations XION CO. Flexible Budget Report For Month Ended June 30 Flexible Budget Actual Results $ 1,090,000 418,2007 366,000 724,000 285,000 300,000 $ 424,000 Variances Fav./Unf. Favorable 52,200 Favorable Favorable 15,000 Unfavorable Favorable