Question: Exercise 21-6 (Static) Preparing flexible budget performance report LO P1 Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible

Exercise 21-6 (Static) Preparing flexible budget performance report LO P1

Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)

	Fixed Budgeted		Actual Results
Sales (units produced and sold)	1,200		1,400
Sales (in dollars)	$ 300	per unit	$ 435,000
Variable costs	$ 120	per unit	$ 172,000
Fixed costs	$ 125,000		$ 122,000

Exercise 21-6 (Static) Preparing flexible budget performance report LO P1 Lewis Company

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