Exercise 8-4 (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 $81 per unit and variable costs of $36 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Inded June 30 Sales Variable costs Contribution margin Fixed costs Flexible Budget Performance Report Flexible Budget (11,000 units) Actual Results (11.000 units) Vatiances FavorableUnfavorable $ 14.000 Favorable 353.000 495,000 272.000 287,000 Income